America Stem Cell Awarded $2.5m By Texas Emerging Technology Fund

America Stem Cell (ASC) has been awarded $2.5 million from the State of Texas Emerging Technology Fund (ETF).

This investment would enable ASC to accelerate the development of its breakthrough enzyme technology to enhance the homing and engraftment of cord blood stem cells. It would also help achieve improved clinical outcomes for cancer patients receiving these stem cell transplants.

Jim Poage, president and CEO of SATAI and STRCIC, said: “There are stringent criteria for emerging technology companies to win an ETF award. ASC had much strength in their application including an innovative enzyme technology which has the potential to address unmet cancer patient needs, a strong worldwide patent position and an experienced research and management team. ASC is poised to provide significant contributions to the growth of the biotechnology industry in San Antonio.”

Lynnet Koh, chief executive officer and founder of America Stem Cell, said: “We are very grateful to the various ETF committees who, after extensive and thorough due diligence, have decided to make this important award to America Stem Cell. We will utilize these funds to effectively accelerate our development forward to start our Phase I/II clinical trials at MD Anderson, position ourselves to achieve additional funding and drive towards achieving human proof of concept and worldwide market launch of our breakthrough enzyme technology.”

“We believe that we are well positioned to be the world market leader in stem cell homing and engraftment technologies and we are proud to be part of Texas’ achievements in the fields of stem cell transplantation and biotechnology,” he added.