Kadimastem Gets NIS 8.5 M for Stem Cells

Kadimastem (TASE:KDST), a developer of human pluripotent stem cell-based drug screening and therapeutic solutions, has received approval for a budget from the OCS for two development plans totaling NIS 8.5 million, for the development of cell therapy and drug screening solutions for diabetes, as well as for the development of drug screening solutions for neurodegenerative diseases. The grant will support and assist Kadimastem in advancing its regenerative medicine and drug screening platform for diabetes, and to continue the development and strengthening of drug screening platforms for neurodegenerative diseases such as Huntingdon’s (HD), Multiple Sclerosis (MD) and Amyotrophic lateral sclerosis (ALS).

Following the approval, Kadimastem will receive a grant equal to 50% of its research & development costs. A budget of NIS 5.285 million was approved for regenerative medicine and drug screening solutions for diabetes,

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mostly to develop stem cell-derived insulin-secreting cells for implantation into diabetes patients. A budget of up to NIS 3.217 million was approved for the advancement of the company’s stem cell-based drug screening platform for neurodegenerative diseases, primarily for diseases caused by damage to the myelin sheath.

In addition, Kadimastem has recently reported signing a memorandum of understanding with Merck Serono focused on Kadimastem’s stem-cell based drug screening technologies. The two companies are leveraging Kadimastem’s stem-cell based drug screening technologies to identify compounds that cause cell differentiation and myelination (the process of enveloping axons in myelin). Such compounds could lead to the development of next generation drugs for MS, particularly at stages where currently available drugs which affect the immune system are no longer effective, and more advanced treatment is required. One of the main objectives the collaboration is the development of drug screening technologies based on stem cell-derived astrocytes for ALS (cells that support the nervous system and have shown to be involved in neurodegenerative disorders).

Kadimastem (TASE:KDST) develops human pluripotent stem cell-based drug screening and therapeutic solutions for diabetes and neurodegenerative diseases. The company’s platform technologies allow for in-house expansion of stem cells and their differentiation into a range of functional human cells including brain glia cells such as Oligodendrocytes and Astrocytes, as well as pancreatic insulin-producing Beta cells.

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