NeoStem, Inc., an international biopharmaceutical company with a focus on cell based therapeutics development, recently announced in a press release that it has been awarded a funding of $1,780,049 from Department of Defense (DOD) Peer Reviewed Medical Research Program (PRMRP) of the Office of the Congressionally Directed Medical Research Programs (CDMRP). According to the officials from the company, the amount will be used to fund the company's VSEL Technology. NeoStem will investigate a unique stem cell population, Very Small Embryonic-Like (VSEL) stem cells, for its bone building and regenerative effects in the treatment of osteoporosis.
"The receipt of this grant award validates our research efforts and the promise of VSEL Technology in multiple clinical applications,” said Robin Smith, M.D., MBA, NeoStem's Chairman and CEO, in a statement, “We are thrilled that the Department of Defense has selected NeoStem and shares our excitement and vision regarding the clinical regenerative potential of our VSEL™ Technology. Awards such as these provide both non-dilutive capital and offer external peer-reviewed validation of the value of our research platform. We believe VSEL™ Technology holds great potential, beyond bone marrow derived mesenchymal stem cell approaches as these cells hold the promise of natural pluripotency i.e. to differentiate into all three germ layers. As such, these cells have the potential to move the regenerative medical field beyond the classic paracrine mechanisms (neoangiogenesis and down-regulation of inflammation) toward tissue and bone repair and regeneration."
"This research effort has the potential to dramatically change the way in which osteoporosis and bone fracture is treated in the military and in the general population," said Dr. Russell Taichman, Professor of Dentistry, Department of Periodontics and Oral Medicine at the University of Michigan's School of Dentistry who will work with the Company on the study.
Dr. Taichman added, "Osteoporosis is a major medical condition affecting 75 million people worldwide and causing significant morbidity and mortality in the aging population and the increased incidence of fractures is the major cause of death from osteoporosis. In 2005, the estimated cost burden of fractures due to osteoporosis was $19 billion and that is expected to rise to over $25 billion by the year 2025. In addition to being a major concern for the general healthcare community, osteoporosis and related bone fractures have become a concern for the military with significant loss of duty time across all branches of the military due to related stress fractures."
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Rahul Arora is a HealthTechZone contributor. He has worked as an editor and freelance writer for several reputed organizations in India. To read more of his articles, please visit his columnist page.
Edited by Rich Steeves
