BioTime received $1.9 million grant from the Israel Innovation Authority

BioTime, a clinical-stage biotechnology company focused on degenerative diseases, has been awarded a new grant for 2018 of up to $1.9 million from the Israel Innovation Authority (IIA).

The grant provides funding for the continued development of OpRegen®, and to date the IIA has provided annual grants totaling over $13 million.

OpRegen is currently in a Phase I/IIa clinical study, which in March 2018 received authorization from the Data Safety Monitoring Board (DSMB) to move forward with enrollment of cohort 4. The DSMB approval was based on the safety observed throughout the first three cohorts. Safety will remain the primary focus of cohort 4. The fourth cohort will include better vision patients than the previous three cohorts. These better vision patients will likely be in earlier stages of the disease and allow for a wide range of preliminary functional assessment measurements. These earlier stage patients will likely be the target patient population for this therapy and BioTime expects to share initial data from cohort 4 in the coming months.

BioTime is a clinical-stage biotechnology company focused on degenerative diseases. Its clinical programs are based on two platform technologies: cell replacement and cell/drug delivery. With its cell replacement platform, BioTime is producing new cells and tissues with its proprietary pluripotent cell technologies. These cells and tissues are developed to replace those that are either rendered dysfunctional or lost due to degenerative diseases or injuries.

BioTime’s cell/drug delivery programs are based upon its proprietary HyStem cell and drug delivery matrix technology. HyStem was designed, in part, to provide for the transfer, retention and/or engraftment of cellular replacement therapies. BioTime’s lead cell delivery clinical program is Renevia, which consists of HyStem combined with the patient’s own adipose (fat) progenitor cells. Renevia met its primary endpoint in an EU pivotal clinical trial for the treatment of facial lipoatrophy in HIV patients in 2017.

SOURCE: biotime
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