In major news released today, Cynata Therapeutics announced that it is receiving a R&D Tax Incentive refund of nearly $1 million for the 2014/2015 financial year.
This cash influx will assist the company with the upcoming clinical trial involving its Cymerusâ„¢ mesenchymal stem cell (MSC) product, CYP-001. Cynata’s Cymerusâ„¢ MSCs are derived from a single donation from a single donor, using induced pluripotent stem cells (iPSCs) as the source tissue. Not only does this approach allows MSCs to be produced in nearly limitless quantities, it also eliminates product variability and allows for lower manufacturing costs.
Cynata is an exciting company to watch, as highlighted by Rodman and Renshaw. To learn more, read the full press release from Cynata Therapeutics, included below. [Read more…]