Lineage Cell Therapeutics Inc (LCTX)

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9:02AM BioTime's subsidiary Cell Cure Neurosciences awarded $1.7 million grant from Israel's Office of the Chief Scientist (BTX) 3.44 : Co announces that its subsidiary Cell Cure Neurosciences has been awarded a grant for 2014 of approximately $1.74 million from Israel's Office of the Chief Scientist (OCS) to help finance the development of OpRegen, a cell-based therapeutic product in development by Cell Cure for the treatment of age-related macular degeneration. Cell Cure's plans for the development of OpRegen include completion of pre-clinical testing and filing an IND application to commence human clinical trials in 2014. Cell Cure will pay a royalty to the OCS on revenues from OpRegen until total royalties paid equal 100% of the amount of the grant plus interest at a LIBOR rate.