News Column

America Stem Cell Awarded $2.5 Million from the Texas Emerging Technology Fund

August 1, 2014

ASC's enzyme treatment could potentially transform cord blood stem cell engraftment, accelerate patients' immune system and platelet recovery, reduce opportunistic infections and improve cord blood stem cell transplant patient survival and quality of life. This enzyme treatment will enable the tens of thousands of adult cancer patients in the U.S. to be treated quickly with umbilical cord blood, versus enduring what is often a long and futile wait for matching marrow or peripheral blood stem cells, during which time many patients die needlessly.

"Texas is the best state in the nation to live, work and do business, and the ETF is helping supercharge our technology environment by bringing Texans' good ideas and hard work to the marketplace," Texas Gov. Rick Perry said. "This investment demonstrates our commitment to improving the lives of cancer patients by developing innovative cord blood stem cell technology, while protecting the unborn from exploitation."

"There are stringent criteria for emerging technology companies to win an ETF award. ASC had many strengths in their application including an innovative enzyme technology which has the potential to address unmet cancer patient needs, a strong worldwide patent position and an experienced research and management team," Jim Poage, President and CEO of SATAI and the STRCIC said. "ASC is poised to provide significant contributions to the growth of the biotechnology industry in San Antonio".

"We are very grateful to the various ETF committees who, after extensive and thorough due diligence, have decided to make this important award to America Stem Cell. We will utilize these funds to effectively accelerate our development forward to start our Phase I/II clinical trials at MD Anderson, position ourselves to achieve additional funding and drive towards achieving human proof of concept and worldwide market launch of our breakthrough enzyme technology," Lynnet Koh, Chief Executive Officer/Founder of America Stem Cell said. "We believe that we are well positioned to be the world market leader in stem cell homing and engraftment technologies and we are proud to be part of Texas' achievements in the fields of stem cell transplantation and biotechnology".

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Source: Global Data Point

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