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Rutgers research partner Stemcyte, Inc., expands to New Jersey
Date:5/1/2008

NEW BRUNSWICK, N.J. Officials from Rutgers University and state government today welcomed StemCyte, Inc., to the Garden State. One of the factors in the companys decision to move into New Jersey was a desire to be closer to Rutgers and the groundbreaking research taking place at the university.

StemCytes new office in Ewing Township will house members of its executive management and therapeutics team, establishing a base of operations for the companys northeast United States therapeutics program. StemCyte is a global umbilical cord blood (UCB) stem cell and therapeutic products company.

Rutgers and StemCyte have been collaborating on a spinal cord injury therapy in development by Dr. Wise Young, the Richard H. Shindell Professor of Neuroscience. Youngs therapy, which uses StemCytes proprietary human UCB stem cells in conjunction with lithium, is undergoing clinical trials in China in a network of medical facilities brought together by Young.

I am proud of New Jersey's and Rutger's commitment to stem cell therapeutics, Young said. StemCyte is the only company today that is actually curing hundreds of people with stem cells. Over the past six years, StemCyte has treated patients with 35 types of diseases in 32 countries with a UCB stem cell product.

The synergy emanating from this partnership of academia and industry is already global in its scope, said Richard L. McCormick, president of Rutgers, The State University of New Jersey. Dr. Youngs work with people in China offers new hope to spinal cord injury patients and their families here in New Jersey and worldwide. We are pleased to welcome StemCyte as new neighbors in a statewide community that is focused on medical progress.

To further encourage this industrial-academic research and development partnership, the New Jersey Economic Development Authority is supporting StemCytes move with a 10-year Business Employment Incentive Program (BEIP) grant that will facilita
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Contact: Joseph Blumberg
blumberg@ur.rutgers.edu
732-932-7084 x652
Rutgers University
Source:Eurekalert

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