International Stem Cell Corp., a California-based biotechnology company focused on the therapeutic applications of human parthenogenetic stem cells, announced today that $1 million has been invested by a number of existing long-standing investors through a private placement on the same terms as the transaction with management reported on January 22, 2013.
The funds, along with those received in January 2013 from members of the management team, will help advance ISCO's therapeutic programs towards clinical stage, building upon recently announced promising pre-clinical data for both the Parkinson's and Liver disease programs.
"To have a number of existing shareholders increase their positions is gratifying and shows a high level of confidence in our ability to deliver milestones and build shareholder value," stated Dr. Andrey Semechkin, CEO and Co-Chairman of ISCO. "It is very important to us that we have the trust of some of our largest shareholders and that they have a strong belief in both management's ability to execute and the technical, medical and immunological advantages of human parthenogenetic stem cells."
"We believe passionately that hpSC will play an important part in the development of treatments for a number of incurable diseases and this investment brings this vision closer to reality," Dr. Semechkin concluded.
For more information on ISCO, visit internationalstemcell.com
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