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BioRestorative Therapies Awarded an STTR Phase I Grant to Explore the Therapeutic Effects of PEG-Peptide Hydrogel-Encapsulated Hypoxic Bone Marrow Stem Cells
MELVILLE, N.Y., Jan. 04, 2022 (GLOBE NEWSWIRE) -- BioRestorative Therapies, Inc. (the “Company" or “BioRestorative”) (NASDAQ:BRTX), a life sciences company
About this update from Biorestorative Therapies, Inc.
[{"type":"text","content":"MELVILLE, N.Y., Jan. 04, 2022 (GLOBE NEWSWIRE) -- BioRestorative Therapies, Inc. (the “Company\" or “BioRestorative”) (NASDAQ:BRTX), a life sciences company focused on stem cell-based therapies, today announced that it has been awarded a Small Business Technology Transfer (STTR) Phase I grant for $256,000. The funds will be used specifically to evaluate the therapeutic effects on the Company’s hypoxic cultured bone marrow derived mesenchymal stem cells (BRTX-100) after encapsulation with a PEG-peptide hydrogel. The work is being done in collaboration with Dr. Lori Setton, Chair of the Department of Biomedical Engineering at Washington University in St. Louis. Dr. Setton developed the hydrogel from a PEG backbone conjugated with a proprietary formulation of peptides mimicking laminin and other matrix proteins selected for their ability to modulate cell phenotype and biosynthesis. The STTR aims to define the therapeutic potential and mechanism by which the newly synthesized hydrogel can optimally support the therapeutic delivery of hypoxic cultured bone marrow-derived stem cells. “The National Institutes of Health funds companies with the most innovative, cutting-edge ideas that have the potential to become commercial successes and make important societal impacts,” said Lance Alstodt, CEO of BioRestorative Therapies. “We are tremendously grateful and honored to have been awarded this Phase I STTR. This collaboration is an important milestone that demonstrates our commitment to developing and expanding our product pipeline.” All proposals submitted to the NIH SBIR/STTR program undergo a rigorous merit-based review process. Once a small business is awarded a Phase I SBIR/STTR grant (up to $256,000), it becomes eligible to apply for a Phase II (up to $1,000,000). Small businesses with Phase II funding are eligible to receive up to $500,000 in additional matching funds with qualifying third-party investment or sales. “We are thrilled to collaborate with BioRestorative Therapies on this project. By receiving this grant, we will be able to evaluate the therapeutic benefits of our PEG-peptide hydrogel in combination with BioRestorative’s hypoxic cultured stem cells,” said Dr. Lori Setton, co-investigator on this project. About BioRestorative Therapies, Inc. BioRestorative Therapies, Inc. (www.biorestorative.com) develops therapeutic prod...