BASKING RIDGE, N.J. (October 2, 2017) – Caladrius Biosciences, Inc. (NASDAQ:CLBS) (“Caladrius” or the “Company”), a development-stage biopharmaceutical company with multiple technology platforms targeting autoimmune and select cardiology indications, announces the award of a $1,941,000 Small Business Innovative Research (“SBIR”) grant from the National Heart, Lung and Blood Institute of the National Institutes of Health (“NIH”) to support a clinical study with CLBS14 in patients with Coronary Microvascular Dysfunction (“CMD”). CLBS14 is Caladrius’ propriety CD34+ cell therapy and CMD is a disease manifested by reduced blood flow to the heart muscle, resulting in pain and dysfunction. Under the terms of the grant, the Company expects to receive approximately $750,000 in 2017 with the balance to be received in 2018 and 2019 in conjunction with the advancement of the study.
“One of the body’s natural responses to ischemia is the recruitment of CD34 cells with these cells being pre-programmed to repair damage to the small blood vessels, or microcirculation,” said Douglas W. Losordo, M.D., FACC, FAHA, and Chief Medical Officer of Caladrius Biosciences. “We are excited to advance the clinical development of our CD34+ cells in CMD as there are currently no therapies to address defects in the small blood vessels that contribute to the impairment of patients with acute and chronic ischemia, such as in CMD.”
“Our enthusiasm for this program is underscored by a strong body of preclinical and human clinical data that support CD34 cell therapy as having a beneficial effect in many cardiovascular and peripheral vascular diseases. We look forward to initiating a 20-patient Phase 2 proof-of-concept study of CLBS14 in patients with CMD in early 2018 with the vast majority of the necessary funding being provided by this grant award,” said David J. Mazzo, Ph.D., President and Chief Executive Officer of Caladrius Biosciences. “We are particularly pleased to be awarded this SBIR grant as it highlights the NIH’s strong interest in the development of therapies to treat CMD, while also supporting our strategy to advance our clinical pipeline and generate more opportunities within our product portfolio through non-dilutive grants and collaborations"
