Navigation Links
U.S. Government Grants Awarded for Further Development of Adult Stem Cell Products

MELBOURNE, Australia, Nov. 8, 2010 /PRNewswire/ -- Regenerative medicine company, Mesoblast Limited (ASX: MSB; USADR: MBLTY), today announced that its United States associate company, Angioblast Systems, has been awarded $1.2 million in grants under the United States Government's Qualifying Therapeutic Discovery Project (QTDP) program.

Angioblast received the maximum grant amount awarded for each of the five projects that were eligible for QTDP funding.  The projects, selected jointly by the United States Treasury Department and the Department of Health and Human Services, relate to the company's adult stem cell products for congestive heart failure, heart attack, oncology, eye and diabetes indications.

"We are pleased to have received this cash award, and will use the funds to advance our objectives for product commercialization," said Mesoblast Chief Executive Professor Silviu Itescu.

The QTDP program was enacted as part of the Patient Protection and Affordable Care Act of 2010 to provide tax credits to eligible companies in order to encourage investments in new therapies for prevention or treatment of acute and chronic diseases.  Companies, such as Angioblast Systems, that cannot currently use a tax credit were allowed to apply for a cash grant in lieu of a tax credit.

To be eligible for the program, projects had to show reasonable potential to result in new therapies to treat areas of unmet medical need, prevent, detect, or treat chronic or acute disease and conditions, or reduce long-term health care costs in the United States.  Preference was given to projects that showed the greatest potential to create and sustain (directly or indirectly) high quality, high-paying jobs in the United States, and advance United States competitiveness in the fields of life, biological, and medical sciences.

"The award serves as further external recognition, in this case by the United States Government, of the strength and promise of our adult stem cell technology platform to deliver effective therapies for a range of conditions currently in great medical need," said Professor Itescu.

About Mesoblast

Mesoblast Limited (ASX: MSB; USADR: MBLTY) is a world leader in commercializing biologic products for the broad field of regenerative medicine. Mesoblast has the worldwide exclusive rights for a series of patents and technologies developed over more than 10 years relating to the identification, extraction, culture and uses of adult Mesenchymal Precursor Cells (MPCs). www.mesoblast.comContact:Julie MeldrumMesoblast Limited+61 3 9639 6036

SOURCE Mesoblast Limited
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Lentigen Awarded $1.2 Million by U.S. Government Under the Qualifying Therapeutic Discovery Project
2. Regado Biosciences Awarded Three Grants from the Federal Government to Advance Research of Lead Programs
3. Ardea Biosciences Awarded a $733,438 Grant from the U.S. Government Under the Patient Protection and Affordable Care Act
4. BioSpec Global Solutions Inc hopes to receive confirmation from Chinese government for testing of TOGS™ 9000
5. Curemark Attends North American Bio Forum at Canadian Government Invitation
6. Elusys Awarded Additional $40.6 Million Under Existing U.S. Government Contract to Fund Advanced Development of Anthim, a New Treatment for Anthrax
7. The Irish Government and the Irish Voice Recognize Fibrocell Science, Inc.s Declan Daly as Irish Life Science 50 Member
8. AMA Honors NIH Chief Molecular Biologist Ira Pastan, M.D. With Top Government Service Award
9. U.S. Government Awards DuPont, Partners with Technology Investment Agreement for Macroalgae-to-Biobutanol Research
10. Brazilian Sugarcane Industry Association Stresses Need for Brazils Government to Announce Ethanol Import Tariff Cut as Soon as Possible
11. North Carolina-based Cnanoz Unveils NanoPure(TM) to Government Leaders in Hyderabad, India
Post Your Comments:
(Date:6/27/2016)... ... June 27, 2016 , ... Rolf K. Hoffmann, ... faculty of the University of North Carolina Kenan-Flagler Business School effective ... at UNC Kenan-Flagler, with a focus on the school’s international efforts, leading classes ...
(Date:6/24/2016)... ... June 24, 2016 , ... While the majority of commercial ... Cary 5000 and the 6000i models are higher end machines that use the more ... the spectrophotometer’s light beam from the bottom of the cuvette holder. , FireflySci ...
(Date:6/23/2016)... - FACIT has announced the creation of a ... Propellon Therapeutics Inc. ("Propellon" or "the Company"), to ... of first-in-class WDR5 inhibitors for the treatment of ... an exciting class of therapies, possessing the potential ... patients. Substantial advances have been achieved with the ...
(Date:6/23/2016)... , June, 23, 2016  The Biodesign Challenge (BDC), ... new ways to harness living systems and biotechnology, announced ... (MoMA) in New York City . ... participating students, showcased projects at MoMA,s Celeste Bartos Theater ... Antonelli , MoMA,s senior curator of architecture and design, ...
Breaking Biology Technology:
(Date:5/20/2016)... MINNEAPOLIS , May 20, 2016  VoiceIt ... technology partnership with VoicePass. By working ... user experience.  Because VoiceIt and VoicePass take slightly ... two engines increases both security and usability. ... expressed excitement about this new partnership. ...
(Date:4/28/2016)... India , April 28, 2016 ... Infosys (NYSE: INFY ), and Samsung SDS, a ... that will provide end customers with a more secure, ... services.      (Logo: ) , ... services, but it also plays a fundamental part in enabling ...
(Date:4/15/2016)... 15, 2016  A new partnership announced today ... underwriting decisions in a fraction of the time ... and high-value life insurance policies to consumers without ... With Force Diagnostics, rapid testing (A1C, Cotinine and ... (blood pressure, weight, pulse, BMI, and activity data) ...
Breaking Biology News(10 mins):