Stem Cell Medicine (SCM) Receives Israeli Government Funding for Gene Therapy Facility
Production Facility to be built in JerusalemJERUSALEM Israel, March 26, 2019 — Stem Cell Medicine Ltd. (SCM), a biotechnology company developing new therapies for neurological indications and rare diseases through gene therapy, cell therapy, exosomes, novel molecules and combinations with existing pharmaceuticals, announced today that it has received funding from the Israeli Ministry of the Economy to build a gene therapy facility. The new facility will enable SCM to manufacture gene therapy products for commercial launches, benefiting from the favorable global regulatory and marketing environment for its products. The first gene therapy product under development at SCM is for the treatment of neuropathic pain.
