NEW YORK, Jan. 10, 2007 (PRIME NEWSWIRE) -- National Stem Cell Holding, Inc. (Pink Sheets:NHGI), through its wholly owned subsidiary, National Stem Cell Laboratory, Inc., has filed a grant application with the State of Maryland for $1,725,000 in research funding. National Stem Cell will be conducting its research at Johns Hopkins University School of Medicine, with whom the company maintains sponsored research agreements.
Michael Cohen, CEO of National Stem Cell, notes, "I am particularly excited to expand our operations in Maryland, a state that is supporting the same research goals as our company. We look forward to increasing our capacity for research and we will be announcing other business developments in the months ahead."
The company applied for the $1,725,000, to be awarded over a five-year period, with special self-imposed conditions for investment in the Maryland economy. National Stem Cell Laboratory, a Maryland corporation, outlines in the application that its total anticipated expenditures in the state over the five years following the date of the award should exceed the amount awarded.
Mr. Cohen went on to say, "The scientific areas of exploration to be enhanced with the grant include the development of a derivation and expansion platform that is free of non-human animal products, the creation of clean stem cell lines for research or therapeutic use, and the testing of a new proprietary cryopreservation system."
National Stem Cell Holding, Inc. is a biotechnology company headquartered in New York City dedicated to the advancement of regenerative medicine. Through its sponsored research agreement with the Johns Hopkins University School of Medicine's Institute for Cell Engineering, National Stem Cell is focused on the development of potential stem cell therapies for the treatment of diabetes and cardiac injury. The company is developing a genetically diverse umbilical cord blood bank to meet the growing need for transplant grade umbilical cord blood stem cells. National Stem Cell Holding, Inc. is the parent company of National Stem Cell, Inc, incorporated in 2005, which operates the Sperm Bank of New York as a wholly owned subsidiary. For more information, please visit www.nationalstemcell.com.
Forward-Looking Statements:
As provided by the "Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995," National Stem Cell Holding, Inc. cautions readers that this Press Release includes certain information which constitutes forward-looking statements. Such forward-looking statements address the company's intentions, hopes, expectations, strategies, and financial or business outlook for the future. The statements are based on management's current beliefs and expectations and thus, apply only as of the date of this Press Release. There are a number of risks and uncertainties that could cause actual results or events to differ materially from management's current beliefs and expectations. Risk factors include but are not limited to National Stem Cell Holding, Inc.'s ability to meet stated goals, as well as general economic, competitive, governmental and technological factors. National Stem Cell Holding, Inc. does not undertake any obligation or responsibility to update forward-looking statements.