Initiates Activities by Retaining Grant Development Firm to Source Research Funding
SAN DIEGO--(BUSINESS WIRE)--Bio-Matrix Scientific Group’s (OTCBB:BMSN) announced today that it has retained a private grant research and development firm to aggressively pursue both private and public sector grant funding of research in the area of Stem Cell Therapy for Chronic Obstructive Pulmonary Disease (COPD) conducted by Entest BioMedical, Inc. (OTCBB:ENTB). Entest BioMedical, Inc. is a publicly traded, majority owned subsidiary of Bio-Matrix.
Bio-Matrix’ Chairman & CEO David Koos stated, “We believe our research in COPD could offer dramatic improvement and new hope for patients suffering from this debilitating condition. Utilizing a firm that specializes in sourcing private and public sector grant funding will allow us to move our research forward much faster, so that we may make stem cell treatment for COPD available to physicians and patients as quickly as possible. More than 12 million people are currently diagnosed with COPD. An additional 12 million likely have the disease but are not yet diagnosed.”
Currently, Entest is preparing to undertake small sample testing of its patent pending stem cell technology for COPD. Grant funding from private and public sources will allow the Company to move rapidly towards filing an Investigational New Drug (IND) application with the FDA on this novel treatment. Once the IND has been approved, the Company anticipates moving forward into large scale clinical trials.
A Company Spokesperson noted that there exist substantial grant funding opportunities for the Company in this area. Both private and public organizations are extremely interested in supporting stem cell therapy research which demonstrates a potential for the successful treatment of COPD as there is currently no cure for COPD. The cost of treating COPD is projected to exceed $800 billion over the next 20 years. Entest’s stem cell therapy, if proven effective, can provide a strong revenue base for the Company while substantially reducing the cost of treating COPD.
About Bio-Matrix Scientific Group
Bio-Matrix Scientific Group Inc. (OTCBB:BMSN) is a biotech research and development company headquartered in San Diego, Ca. with a 15,000 sq. ft. facility that houses two secure cryogenic stem cell banks, three research laboratories, aseptic cellular/tissue class 10,000/100 processing lab, hematology, microbiology and flow cytometry laboratories.
About Entest BioMedical Inc.:
Entest BioMedical Inc. (OTCBB:ENTB) is a majority owned subsidiary of Bio-Matrix Scientific Group Inc. The Company is involved with the development of testing procedures for diabetes, stem cell research applications for diabetes and other illnesses. The Company also is involved with medical device development (including stem cell extraction instrumentation).
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