Case Western Reserve University Receives $5M From Third Frontier Commission for the Center for Stem Cell & Regenerativ... ( Funding supports multiple commercial ...)

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Case Western Reserve University Receives $5M From Third Frontier Commission for the Center for Stem Cell & Regenerative Medicine

Date:6/25/2009

Funding supports multiple commercial, emerging and pilot projects

CLEVELAND, June 25 /PRNewswire-USNewswire/ -- The Center for Stem Cell & Regenerative Medicine (CSCRM), comprised of Case Western Reserve University (CWRU), Cleveland Clinic (CC), University Hospitals (UH), and Athersys, Inc. has received $5 million from Ohio's Third Frontier Commission under the Research Commercialization Program. The funding will help support new and innovative stem cell technologies including two commercial, four emerging and three pilot projects. This funding will be matched by each of the projects to create a $10 million grant benefiting stem cell and regenerative medicine in Ohio.

"This funding provides CSCRM the support it needs to continue to aggressively move new technologies from academic labs towards commercial development," said Stan Gerson, Director of the Center for Stem Cell & Regenerative Medicine. "We have linked corporate partners to our major projects and have been gratified by the development of a stem cell biotechnology commercial landscape in our region. Our goal is to rapidly move stem cell research from the lab to patients through clinical trials, using our strong background in preclinical models."

The continued research efforts will result in efficient clinical applications and commercialization of stem cells to benefit patients throughout Ohio. To date, such efforts have brought in $170 million in new commercial development and investment in Ohio.

"This grant continues to build distinctive and broad reach capabilities that are making Ohio a leader in the development and clinical use of cellular therapies," said Baiju R. Shah, President and CEO of BioEnterprise. "Ohioans benefit both through the resulting company development and jobs as well as by having access to leading-edge clinical therapies at our region's clinical institutions."

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