NEW YORK, July 23, 2015 (GLOBE NEWSWIRE) -- Caladrius Biosciences, Inc. ("Caladrius") (NASDAQ:CLBS), a cell therapy leader with a Phase 3 clinical program in immuno-oncology and a portfolio of projects in immune modulation and regenerative medicine, announced today that it has received notice of an award from the National Eye Institute of the National Institutes of Health for a project to investigate 3D retinal constructs for vision restoration in patients with age-related macular degeneration. The total planned amount for the grant is $671,633. Of that total, $344,498 has been awarded for the 2015 budget period.
The grant supports a three-year study led by Dr. Hans S. Keirstead, Caladrius' Senior Vice President, Research, and Chief Science Officer. Dr. Keirstead's research team will further the development of Caladrius' proprietary methods to generate 3D retinal constructs from human-induced pluripotent stem cells, and test their ability to restore vision, using a new model of rodent retinal degeneration.
"This grant builds on our April announcement of additional non-dilutive funding to support discovery programs exploring application of our technologies in the area of retinal regeneration. We thank the NIH and its reviewers for their confidence in our discovery capabilities," said Dr. David J. Mazzo, Chief Executive Officer of Caladrius.
Approximately 11 million people in the United States have some form of age-related macular degeneration. This number is expected to double to nearly 22 million by 2050. Estimates of the global cost of visual impairment due to age-related macular degeneration are close to $343 billion, including $255 billion in direct health care costs.
This research is supported by the National Eye Institute of the National Institutes of Health under Award Number R01EY024045. The content of this press release is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health.
About Caladrius Biosciences
Caladrius Biosciences, Inc. is among the first of a new breed of immunotherapy companies with proven expertise and unique experience in cell process optimization, development, and manufacturing. Caladrius is a cell therapy leader with late-stage clinical programs based on proprietary platform technology for immuno-oncology, as well as additional platform technologies for ischemic repair and immunomodulation, and capabilities that support other cell therapy developers. This integrated approach supports the industry in bringing significant life-improving medical treatments to market. www.caladrius.com
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy, the Company's ability to develop and grow its business, the successful development of cellular therapies with respect to the Company's research and development and clinical evaluation efforts in connection with the Company's Targeted Immunotherapy Program, Ischemic Repair Program, Immune Modulation Program and other cell therapies, the future of the regenerative medicine industry and the role of stem cells and cellular therapy in that industry, and the performance and planned expansion of the Company's wholly-owned subsidiary and its center of excellence for cell therapy process development, engineering and manufacturing, PCT, as well as its efforts to expand its capabilities into the cell therapy tools market. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the "Risk Factors" described in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on March 2, 2015, and in the Company's other periodic filings with the SEC. The Company's further development is highly dependent on future medical and research developments and market acceptance, which is outside of its control.
CONTACT: Caladrius Biosciences, Inc. Eric Powers Manager of Communications and Marketing Phone: +1-212-584-4173 Email: firstname.lastname@example.org
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