Big pharma continues with investing in biotech and stem cell research. Recent research projects have been financed from grants from the NIH and it is the hope that the additional funding from Pfizer will enable faster development and the ability to present to the FDA for approval in the area of potential treatments for retinal diseases. BD
EyeCyte, Inc., an early stage stem/progenitor cell-based ophthalmology research and development company based in La Jolla, California, announced that it has secured its Series A funding through an agreement with Pfizer. The financing will fund the company into 2010 and will be primarily used to drive product development of the company's initial clinical target, diabetic retinopathy.