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“$1,500,000 to Stemnion LLC for Rapid Wound Healing Technology Development Project”

Sponsor: Rep. Doyle (D-PA)  

(4 Comments)

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Bill_Allison wrote:

Doyle takes credit for the earmark <a href="http://www.house.gov/doyle/newsrel/070814.shtml">here</a>:

$1.5 Million for Stemnion’s Rapid Wound Healing Technology Development Project for research on amnion-derived cell therapies for rapid wound healing applications. These efforts would focus on empirical testing, selection and optimization, and preclinical toxicity to improve healing of traumatic wounds.

posted September 28, 2007 at 12:16 a.m.

Bill_Allison wrote:

Company CEO George L. Sing contributed $6,600 to Doyle, according to OpenSecrets, in 2006 and 2007 ($4,600 of which was donated on March 8, 2007)...

posted September 28, 2007 at 12:19 a.m.

Bill_Allison wrote:

<a href="http://www.pittsburghlive.com/x/pittsburghtrib/s_360543.html">This story</a> has plenty of information on what Stemnion does, who the key personnel are, and also this information:

The patent-pending technology underlying amniotic epithelial cells was licensed by Pitt in 2002 to a Hazelwood-based company now called Stemnion Inc., formerly Kytaron Technologies Inc.

A biotechnology startup that employs seven scientists and several administrators, Stemnion was formed in January 2004 with seed money from the venture capital fund Lancet Capital.

Medical records company Stentor, which grew out of an idea from a Pitt radiologist through support from Lancet Capital, was sold last month to Dutch electronics giant Philips for $280 million.

Stemnion, one of the fund's latest investments, is seeking to develop cellular therapies for diabetes, liver disease and wound healing using the amnion-derived epithelial cells, said Stemnion CEO and Lancet Capital director George Sing.

"Not only are these cells not controversial, they are very abundant and it would appear they do not form tumors in animal models," Sing said. "All of these things bode very well from a commercialization standpoint."

Stemnion officials would not discuss advances with amnion epithelial cells made beyond the study that was published today, but they are probably years away from having a sellable product, Sing said.

"We're hoping to get more funding to accelerate and expand our work," Sing said. "If we succeed, it will be a monstrous company."

posted September 28, 2007 at 6:04 p.m.

chromantix wrote:

So... they get federal grants AND earmarks?

I'm assuming they'll just give their technology to the taxpayers for funding the project after it's complete, right?


Right...

posted November 16, 2007 at 2:07 a.m.