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ViaCyte, Inc. raises $10.6 Million in a Private Financing to Support Clinical Development of its Cell Therapy Product for Insulin Dependent Diabetes
Date:7/10/2013

at regulate blood glucose in a manner similar or identical to a normal pancreas. 

Kevin D'Amour, Ph.D., ViaCyte's Chief Scientific Officer, recently provided an update on VC-01 during a presentation at the 73rd Scientific Sessions of the American Diabetes Association entitled Development of an Encapsulated Stem Cell-Based Therapy for Diabetes. The presentation highlighted the tremendous progress ViaCyte has made in the preclinical development of VC-01.  ViaCyte is currently planning to file its Investigational New Drug (IND) application with the Federal Drug Administration (FDA) to initiate clinical trials in patients with type 1 diabetes early next year.  If VC-01 performs in humans as it has in preclinical studies, it could significantly alleviate or eliminate the challenges and complications for Type 1 diabetics who manage their disease through careful control of diet, monitoring of blood glucose levels and injection of insulin.

The SPA from CIRM provides ViaCyte with $10.1 million to support the clinical study planned for next year and complements previous funding from CIRM.  This award reflects CIRM's commitment to follow promising science through the progressive stages of product development.  The Company has also received and continues to receive both scientific and financial support for the development of VC-01 from JDRF.

Paul Laikind, Ph.D., ViaCyte's president and chief executive officer, said, "We are very gratified by the continued support of our investors and CIRM as we prepare to evaluate the safety and efficacy of VC-01.  This promising product candidate has the potential to vastly improve the lives of millions of patients who currently require insulin injections to survive.  Moreover, success of VC-01 will validate ViaCyte's proprietary, stem cell-derived cell therapy platform that has multiple applications, as well as demonstrate the full utility
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SOURCE ViaCyte, Inc.
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