GERMANTOWN, Md., June 12 (Bernama-GLOBE NEWSWIRE) -- Neuralstem, Inc. (Nasdaq:CUR), a biopharmaceutical company developing novel treatments for nervous system diseases, today announced that it has been awarded a Phase I Small Business Innovation Research (SBIR) contract by the Department of Defense (DoD). The award of $150,000 will support the Company’s ongoing efforts to develop its NSI-566 human neural stem cell line as a candidate therapeutic for severe Traumatic Brain Injury (TBI).
It is estimated that approximately 3-5 million people in the United States have a disability resulting from TBI, with rehabilitative therapy currently serving as the primary treatment method. The research supported by the SBIR contract will facilitate the progress of Neuralstem’s ongoing collaboration with the research group of Dr. Ross Bullock, MD, Ph.D., Professor, Department of Neurological Surgery and Director, Clinical Neurotrauma at the Miami Project to Cure Paralysis. This research is intended to culminate in the filing of an IND application to conduct clinical trials in TBI.
“We are very pleased and appreciative that the DoD has chosen to fund this project,” said Rich Daly, President and CEO of Neuralstem. “Severe TBI represents a significant unmet medical need, and we are excited to continue our preclinical studies to establish the therapeutic potential of neural stem cells in this indication.”
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