Bio-Matrix Scientific Group Preparing to Apply for Stem Research Grant from the California Institute for Regenerative Medicine.SAN DIEGO -- Bio-Matrix Scientific Group Inc. (Pink Sheets:BMXG) is preparing all the documentation for the grant application it will submit to the California Institute for Regenerative Medicine The California Institute for Regenerative Medicine (CIRM) was created by California's Proposition 71 (2004), which authorized it to issue $3 billion in grants, funded by bonds, over ten years for embryonic stem cell and other biomedical research. for a Stem Cell stem cell In living organisms, an undifferentiated cell that can produce other cells that eventually make up specialized tissues and organs. There are two major types of stem cells, embryonic and adult. Research Grant. It is anticipated that actual grant applications will be accepted for review by the Institute toward the later part of March 2005. The documentation process is quite extensive for these grants, causing research entities like Bio-Matrix to ready everything prior to the Institute's initial application period. This will be the first of three grants that Bio-Matrix Scientific plans on submitting in this area. Last November, California voters approved Proposition 71, which lead to the creation of the California Institute for Regenerative Medicine, a $3 billion funding agency for stem cell research. The Institute for Regenerative Medicine plans to make available $295 million for stem cell researchers every year for the next 10 years. The California Institute for Regenerative Medicine hopes to have in place the first grants to applicants by May 2005. Grant money will be available for embryonic research, adult stem cell Adult stem cells are undifferentiated cells found throughout the body that divide to replenish dying cells and regenerate damaged tissues. Also known as somatic (from Greek Σωματικóς, of the body research, research devices, and for building research labs in the state of California. Dr. Philip Watts, Director of Research and Development for the Company, stated, "Should we receive funding from the Institute through these grants, Bio-Matrix Scientific anticipates aggressively pursuing the development of our stem cell research devices and cryogenics cryogenics: see low-temperature physics. cryogenics Study and use of low-temperature phenomena. The cryogenic temperature range is from −238°F (−150°C) to absolute zero. At low temperatures, matter has unusual properties. programs." Bio-Matrix plans on having Dr. Watts head up its team of scientists, researchers, physicians, and advisors. More information will be available shortly on the Company's new web site, www.BMXGonline.com. About Bio-Matrix Scientific Group Inc.: Bio-Matrix Scientific Group Inc. is a development stage company in the business of medical devices and monitoring systems research, development and commercialization. Bio-Matrix Scientific Group Inc. is aligning itself with partners that offer key technologies in biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. device development, tissue engineering, cell culturing, genome therapy and drug delivery systems. Other companies in the same industry as Bio-Matrix Scientific Group Inc. (Pink Sheets:BMXG) are StemCells Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :STEM), Thermogenesis thermogenesis /ther·mo·gen·e·sis/ (-jen´e-sis) the production of heat, especially within the animal body.thermogenet´icthermogen´ic ther·mo·gen·e·sis n. Corporation (NASDAQ:KOOL KOOL Kentucky Offender Online Lookup KOOL K-Based Object Oriented Language ) and Regeneration Technologies Inc. (NASDAQ:RTIX). DISCLAIMER: This news release contains forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks. |
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