BioTime Inc. (NYSE:BTX) said today that its subsidiary, Cell Cure Neurosciences, has landed a $2 million grant from the Israel Innovation Authority for the development of its dry-AMD therapy, OpRegen.
The Alameda, Calif.-based company’s OpRegen is an investigational therapy that delivers retinal pigment epithelial cells into the subretinal space to replace lost RPE cells.
“This new grant demonstrates the continued high level of support and confidence that the Israel Innovation Authority has in our development of cell therapy-based treatments,” co-CEO Adi Mohanty said in prepared remarks.
In March, BioTime expanded its OpRegen Phase I/IIa trial into the U.S. with 2 new trial sites. The company’s study is evaluating its cell therapy in patients with advanced dry form age-related macular degeneration.
The 2 U.S.-based trial sites will include ophthalmologists Dr. David Boyer from the Retina-Vitreous Associates Medical Group and Dr. Richard McDonald from the West Coast Retina Medical Group.
The company presented data from the 1st patient cohort in December and February demonstrating that the 1st dose of OpRegen caused no serious adverse events and that the transplanted cells survived in the subretinal space for up to 1 year.
BTX shares were trading at $2.63 apiece in morning activity today, up 0.8%.