NEWARK, Calif., Sept. 1, 2011 (GLOBE NEWSWIRE) -- StemCells, Inc. (Nasdaq:STEM) announced today that the California Institute of Regenerative Medicine (CIRM) has approved the Company's application for a "Disease Team Therapy Development Planning Award." The grant, totaling approximately $100,000, will help fund the Company's plans to develop its proprietary human neural stem cell product, HuCNS-SC® cells, in Alzheimer's disease by enabling the Company and its collaborators at the University of California, Irvine, to prepare and submit an application for a "Disease Team Therapy Development Research Award." The CIRM has indicated that each Research Award will be up to $20 million, payable over four years, to fund preclinical and IND-enabling activities with the aim of starting human clinical trials within the four-year window. The CIRM has also indicated it plans to approve and fund Research Awards in the summer of 2012. StemCells, Inc. was one of only four companies awarded a disease team planning grant.
