Gemstone Biotherapeutics Awarded Two Major Research Grants
Baltimore biotech receives funding to support product development, advancement to market
BALTIMORE (November 14, 2018) – Gemstone Biotherapeutics, a biotech company developing novel, bioengineered products for scar-free skin regeneration, was recently awarded two grants to support the continued development of its technologies and movement to commercialization. The company received a Phase I Small Business Innovation Research (SBIR) grant from the National Institutes of Health (NIH) and Commercialization Award from the Maryland Stem Cell Research Fund (MSCRF).
“The SBIR grant program is highly competitive and we are honored to have been awarded Phase I funding. We are excited by the momentum generated for Gemstone through both the NIH SBIR and MSCRF grants,” says Dr. Emily English, chief executive officer for Gemstone Biotherapeutics. “This funding gives us the opportunity to continue developing our products and explore new applications for the technology.”
Gemstone Bio was awarded a $225,000 Phase I NIH SBIR grant to evaluate its wound healing technology for diabetic foot ulcers. Earlier this year, Gemstone Biotherapeutics also was awarded a Phase I SBIR grant by the National Science Foundation (NSF).
Additionally, the company was awarded funding by the Maryland Stem Cell Research Commission. Gemstone Bio received a $299,998 Commercialization Award as part of the Maryland Stem Cell Research Fund’s first round of 2019 funding. The grant, which encourages the growth of new technologies from Maryland-based companies, will support the continued development of Gemstone Bio’s technology for the treatment of severe burns. The Maryland Stem Cell Research Commission and Maryland Stem Cell Research Fund is administered by TEDCO.
“Maryland has played a consistent and critical role in the technological growth of life sciences throughout the region,” said David Mosser, chairman of the Maryland Stem Cell Research Commission. “This first round of recipients through The Maryland Stem Cell Research Fund showcases the state’s successes in medical advancements, and why Maryland continues to be a leader in bringing products to market.”
Gemstone Biotherapeutics is currently focused on developing biomaterials for the dermatology and wound care markets. The company is in pre-FDA and pre-clinical stages of development for two of its skin regeneration products and is working toward commercialization.
About Gemstone Biotherapeutics:
Gemstone Biotherapeutics is a Baltimore-based, biotech company developing innovative, evidence-based products for scar-free skin regeneration. Gemstone’s products have been bioengineered to target the healing cascade that stimulates rapid skin regeneration to restore healthy, stretchy, scar-free skin. The Company’s platform technology has the potential to transform the dermatology market with high-impact, functional and aesthetic benefits for patients and cost savings for the health care industry. For additional information, please visit www.gemstonebio.com