Cell Cure Neurosciences awarded NIS 6.1m Chief Scientist grant

The grant will help finance the development of OpRegen, a cell-based therapeutic product for the treatment of age-related macular degeneration.

Cell Cure Neurosciences Ltd. has been awarded a grant of NIS 6.1 million for 2014 from the Office of the Chief Scientist at Israel's Ministry of Economy. The grant will help finance the development of OpRegen, a cell-based therapeutic product for the treatment of age-related macular degeneration. Cell Cure’s OpRegen development plans include completion of preclinical testing and filing an IND application to commence human clinical trials in 2014. Cell Cure is a subsidiary of Bio Time Inc. (NYSE MKT: BTX).

Cell Cure CEO Charles Irving said, “We thank the Israel Office of the Chief Scientist for their commitment to innovation and their continuing support of our development of a cell therapy based treatment for a major disease of aging.

Benjamin Reubinoff, MD, PhD, Chief Scientific Officer of Cell Cure and Chairman of Obstetrics and Gynecology and Director of the Hadassah Human Embryonic Stem Cell Research Center at Hadassah University Medical Center said, “The dry form of age-related macular degeneration afflicts over seven million people in the United States alone. We anticipate that OpRegen will make a real difference in the quality of life of the aging baby-boomer generation afflicted with this condition in many industrialized countries.”

Published by Globes [online], Israel business news - www.globes-online.com - on December 23, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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