BioTime unit gets grant for development of AMD treatment

|By:, SA News Editor

BioTime (BTX +2.3%) subsidiary Cell Cure Neurosciences gets a $1.74M grant for 2014 from Israel's OCS.

The funds will be used to develop OpRegen for the treatment of AMD.

The company intends to complete preclinicals and file an IND for the commencement of human trials next year.

Cell Cure notes that it will repay the grant plus interest via royalty payments to OCS. (PR)