Max
04-18-2002, 05:01 PM
Neuralstem, Inc. Announces $2.4 Million Award for DARPA Research
GAITHERSBURG, Md., April 3 /PRNewswire/ -- Neuralstem, Inc., the leader in human central nervous system (CNS) stem cell technology, today announced the award of a Defense Advanced Research Projects Agency (DARPA) contract that will provide $2.4 million in funding for 2002 into 2003. Neuralstem will be conducting research on behalf of the Continuous Assisted Performance Program sponsored by DARPA, applying its patented stem cell technology to the discovery of drugs that may enhance cognitive ability and extend the ability to perform cognitive tasks during extended periods of sleep deprivation. The funding of $2.4 million is for Phase I of the Program, beginning in March 2002. Neuralstem is also eligible for a Phase II award for an additional $7.0 million for research performed in 2003 through 2006.
``We are very pleased to be contributing to the success of the DARPA program through the use of our proprietary neural stem cell technology and look forward to making significant progress in the discovery of new drugs for DARPA,'' commented Richard Garr, Neuralstem's President and Chief Executive Officer. ``Our highly characterized human CNS stem cell lines provide the perfect platform to search for compounds which can accomplish their goals,'' added Garr.
Neuralstem's highly characterized human CNS stem cell lines, currently available to pharmaceutical and biotechnology companies for use in functional cell assays for target validation and drug discovery, have undergone expression analysis throughout all stages of development, through disease model assays, and under CNS drug influences, generating genomic information that is key to identifying novel drug targets.
DARPA is the central research and development organization for the United States Department of Defense (DoD). It manages and directs selected basic and applied research and development programs for DoD and pursues research and technology where risk and payoff are both very high and where success may provide dramatic advances for traditional military roles and missions.
Neuralstem, Inc. is a privately held biopharmaceutical company commercializing proprietary, patented central nervous system (CNS) stem cell technology and human neurons derived from its CNS stem cells. The technology itself represents a powerful new therapeutic approach and also provides a suite of research tools for accelerating drug discovery and development. Neuralstem is developing a new generation of biotherapeutic products to treat and cure neurodegenerative and neurological disorders of the brain and spinal cord, including Parkinson's disease, Alzheimer's disease, stroke, multiple sclerosis, spinal cord injury, and epilepsy.
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SOURCE: Neuralstem, Inc.
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GAITHERSBURG, Md., April 3 /PRNewswire/ -- Neuralstem, Inc., the leader in human central nervous system (CNS) stem cell technology, today announced the award of a Defense Advanced Research Projects Agency (DARPA) contract that will provide $2.4 million in funding for 2002 into 2003. Neuralstem will be conducting research on behalf of the Continuous Assisted Performance Program sponsored by DARPA, applying its patented stem cell technology to the discovery of drugs that may enhance cognitive ability and extend the ability to perform cognitive tasks during extended periods of sleep deprivation. The funding of $2.4 million is for Phase I of the Program, beginning in March 2002. Neuralstem is also eligible for a Phase II award for an additional $7.0 million for research performed in 2003 through 2006.
``We are very pleased to be contributing to the success of the DARPA program through the use of our proprietary neural stem cell technology and look forward to making significant progress in the discovery of new drugs for DARPA,'' commented Richard Garr, Neuralstem's President and Chief Executive Officer. ``Our highly characterized human CNS stem cell lines provide the perfect platform to search for compounds which can accomplish their goals,'' added Garr.
Neuralstem's highly characterized human CNS stem cell lines, currently available to pharmaceutical and biotechnology companies for use in functional cell assays for target validation and drug discovery, have undergone expression analysis throughout all stages of development, through disease model assays, and under CNS drug influences, generating genomic information that is key to identifying novel drug targets.
DARPA is the central research and development organization for the United States Department of Defense (DoD). It manages and directs selected basic and applied research and development programs for DoD and pursues research and technology where risk and payoff are both very high and where success may provide dramatic advances for traditional military roles and missions.
Neuralstem, Inc. is a privately held biopharmaceutical company commercializing proprietary, patented central nervous system (CNS) stem cell technology and human neurons derived from its CNS stem cells. The technology itself represents a powerful new therapeutic approach and also provides a suite of research tools for accelerating drug discovery and development. Neuralstem is developing a new generation of biotherapeutic products to treat and cure neurodegenerative and neurological disorders of the brain and spinal cord, including Parkinson's disease, Alzheimer's disease, stroke, multiple sclerosis, spinal cord injury, and epilepsy.
Tell Us What You Think -- Click Here
SOURCE: Neuralstem, Inc.
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