ViaCyte has received a $10.1m strategic partnership award from the California Institute for Regenerative Medicine (CIRM) to develop VC-01, which is a regenerative medicine, consisting of pancreatic beta cell progenitors in a durable macroencapsulation device.
VC-01 when implanted under diabetes patient's skin is expected to produce insulin and other factors to control diabetes.
ViaCyte's stem cell-based therapy for diabetes has also received CIRM support in the past, which includes a $20m Disease Team Award in 2009.
The CIRM award will be used by the company to file an Investigational New Drug (IND) Application and initiate clinical evaluation of VC-01 in 2014.
ViaCyte president and CEO Paul Laikind said, "Today's grant allows us to continue our efforts on behalf of the California taxpayers to break new ground with our stem cell-based product that has the potential to essentially cure patients with type 1 diabetes and provide a powerful new treatment for those with type 2 disease as well."
CIRM president Alan Trounson said, "ViaCyte has made good on their initial Disease Team award from CIRM, including a successful Pre-IND FDA meeting, and as a consequence, CIRM and the ICOC are glad to have the opportunity to continue funding ViaCyte's efforts to provide this product to patients with diabetes in California and the rest of the world."