Cell therapeutics company NeoStem (NYSEAMEX:NBS) Tuesday announced that it has been awarded a $1.22 million, two-year grant for a phase 2 clinical study of bone repair using a stem cell product in humans.
Shares rose 1.54 per cent on the news, trading at 66 cents as at about 12:32 p.m. EDT.
The company said that the grant will support the investigation and first approved National Institutes of Health (NIH) clinical study for the "Repair of Bone Defects with Human Autologous Pluripotent Very Small Embryonic-Like Stem Cells (VSEL)". Enrollment for this study is expected to begin in 2013.
The study will evaluate VSEL stem cells as a potential treatment for periodontitis – an inflammation and infection of the ligaments and bones that support the teeth.
The product candidate, derived from a patient's...