Neuralstem has raised a total of $5.228 M improving its financial position finalizing a $1.5 M private placement of 646,551 common shares at $2.32, priced at a 30%premium over the market on the closing, with an approximate $3.7 M from warrant exercises. CUR has also received notice from the NYSE Amex that the CUR is now in compliance with its listing requirements. These funds will help to support the further development of its stem cell technology, including the ongoing clinical trial
Reiterating from our 12/18/09 blog, this Ph I trial will primarily evaluate safety of the cells and surgery procedures utilized. The trial will consist of 18 ALS patients with varying degrees of the disease.
- Neuralstem’s technology platform enables the ability to produce neural stem cells of the human brain and spinal cord in commercial quantities and the ability to control the differentiation of these cells into mature, physiologically relevant human neurons and glia,
- This is the first ALS stem cell trial in the US,
- The FDA has approved the 1st stage of the trial, which consists of 12 patients who will receive 5 to 10 stem cell injections in the lumbar area of the spinal cord,
- This trial will study the safety and the surgical procedures and devices required for multiple injections of cells directly into the grey matter of the spinal cord,
- CUR expects to be treating patients with stem cells in Q1/10 with final review of patient data in 24 months.