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Cryo-Cell Provides Funding for Cord Blood Clinical Trial Application to Treat ALS
Date:8/22/2014

Oldsmar, FL (PRWEB) August 22, 2014

This funding was made through an additional investment in Cryo-Cell’s cell therapy research affiliate, Saneron CCEL Therapeutics, Inc. in the form of a convertible promissory note purchase agreement.

“Cryo-Cell is extremely pleased to collaborate with Saneron on several fronts to enable the filing of an IND, which we hope will lead to regenerative therapies using cord blood to treat devastating neurodegenerative diseases such as ALS,” David Portnoy, Chairman and Co-CEO of Cryo-Cell, stated. He continued, “Although this is only the next step, if Saneron’s cord blood product ultimately is successfully approved by the FDA to treat ALS, Saneron will indeed prove to be a very valuable corporate asset for Cryo-Cell.”

“With these funds, Saneron anticipates filing an IND application in the fourth quarter of 2014. The IND for the FDA will be for a Phase I Safety trial enrolling 12 patients that have been diagnosed with ALS,” said Nicole Kuzmin-Nichols, President & COO of Saneron. “The study will involve the administration of U-CORD-CELL®, Saneron’s proprietary mononuclear enriched cell fraction of umbilical cord blood to be processed in Cryo-Cell’s GMP laboratory.”

Saneron’s sponsored preclinical studies using U-CORD-CELL® have demonstrated efficacy in various disease models including: ALS, stroke, myocardial infarction, and Alzheimer’s disease. In particular, the Cryo-Cell affiliate has demonstrated that a single intravenous administration of U-CORD-CELL® can delay disease progression and extend lifespan in a preclinical ALS animal model.

Cryo-Cell is excited that

Source: PRWeb
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