Following FDA clearance of an expanded access protocol to treat a small group of COVID-19 patients using the GID BIO technology platform, The Richard King Mellon Foundation has awarded $250,000 to GID BIO to conduct the study for patients with severe respiratory distress due to COVID-19.
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LOUISVILLE, Colo. and PITTSBURGH, Aug. 18, 2020 /PRNewswire/ -- Following FDA clearance of an expanded access protocol to treat a small group of COVID-19 patients using the GID BIO technology platform, The Richard King Mellon Foundation has awarded $250,000 to GID BIO to conduct the study for patients with severe respiratory distress due to COVID-19.
The cellular therapy uses an intravenous injection of autologous stromal vascular fraction (SVF) cells, derived at point-of-care using the GID BIO SVF-2 technology platform. GID BIO currently has a potential break-through treatment using the same platform for treatment of osteoarthritis in a pivotal/Phase III trial. "Cellular medicine uses a transplantation of live cells to repair and regenerate tissues of the body without a need for drugs or major surgery," said William W. Cimino, Ph.D., CEO of GID BIO. "We are thrilled that we have been cleared by the FDA to investigate the use of our technology for a small number of COVID patients and that we have the support of the prestigious Richard King Mellon Foundation." The GID BIO technology isolates and concentrates stromal cells, from a small sample of the patient's adipose (fat) tissue, that are then used directly for therapy. Patients receive an injection of a cellular implant made with their own stromal cells. The entire procedure is minimally invasive and completed in less than a few hours. Stromal cells play an essential role in the body's natural healing response. "As the world races to develop COVID-19 diagnostic tests and vaccines, we are investigating a therapeutic approach to minimize patient suffering and improve quality of life," said Cimino. The Richard King Mellon Foundation award is a Program Related Investment in health innovation and technology, and is a component of the Foundation's COVID-19 strategy. The Foundation utilizes Program Related Investments to help finance efforts to better protect people from transmission of the virus; to enhance COVID-19 testing; and to create COVID-19 vaccines. Through a PRI, the Foundation provides capital to for-profit initiatives that have the potential to bring significant public benefit that requires financing beyond the traditional capital markets. Foundation Director and Trustee, Sam Reiman noted, "This $250,000 award to GID BIO can potentially mitigate some of the impact this pandemic has forced on our communities. We are proud to fund a team that is on the cusp of a breakthrough in regenerative medicine where very few treatment options exist." Future applications being evaluated by GID BIO include degenerative musculoskeletal, dermal and organ-specific diseases. About the Richard King Mellon Foundation About GID BIO Media contacts:
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