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

te the 12 new executive-level jobs the company is bringing to the state.

New Jersey continues to provide an innovative and collaborative environment for landmark stem cell research opportunities, Gov. Jon S. Corzine said. The addition of StemCyte to our portfolio of companies represents an important economic investment that brings with it the promise of discovery and cures for some of our most devastating diseases and injuries. I am proud to welcome StemCyte to the Garden State.

Proximity to Rutgers and the BEIP grant were both important considerations in StemCytes decision to move to New Jersey.

The research being done by Dr. Young at Rutgers is top notch, said Kenneth J. Giacin, chair and chief executive officer of StemCyte. In addition, Gov. Corzines plan for developing New Jersey as an active hub for stem cell research and therapeutics development was an important reason for our decision to move our East Coast operations to the state. Were pleased to become an integral part of New Jerseys life sciences community with our focus on therapies derived from umbilical cord blood.

StemCyte, which also has announced the development of a facility in India in collaboration with Cadila Pharmaceuticals and Apollo Hospitals, has operations in California and Taiwan. These facilities collect, process and store UCB stem cells to be used as therapeutic treatments. Unlike embryonic stem cells, which have been the subject of much public controversy, UCB stem cells are harvested from umbilical cords that would otherwise be discarded at the time of childbirth.


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Contact: Joseph Blumberg
blumberg@ur.rutgers.edu
732-932-7084 x652
Rutgers University
Source:Eurekalert

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