It has been announced by the eminent stem cell engineering company Novocell, Inc. based at San Diego in Calif about its closing of a $25 million Series C financing. The Company has also affirmed that the financing included involvement by an assortment of existing investors like Sanderling Ventures, Asset Management Company and Pacific Horizon Ventures and was led by Johnson & Johnson Development Corporation.

The platform technologies of the Novocell that include the human embryonic stem cell (hESC) engineering, cell encapsulation and drug discovery are specially designed to deal with the requisite for the sake of an unlimited provision of specialized human cells for the treatment of a wide range of chronic cellular diseases. As a distinguished part of its methodology in its entirety   the Company in the recent years has developed a definite course of action to efficiently alter hESC into insulin-producing pancreatic endocrine cells. In addition, its cell encapsulation technology is also involved with the supply of a means by which such cells could potentially be delivered to patients without the need for chronic immunosuppression by providing a protective, biocompatible coating for cells that shields them from the immune system. From its inception in 1999 and through the process of merging with CyThera and BresaGen in 2004 the Company has been continuing in the conduction of human clinical trials through the examination of the protection and effectiveness of subcutaneous implants of encapsulated human primary islet allografts in patients who are affected with Type 1 diabetes of an extent of long standing.

While being asked by the Press & Media to express his comments on the latest development the President, Chief Executive Officer and Director of Novocell, Inc. Alan J. Lewis clarified that the financing was driven by the attainment of key milestones undertaken by the Company on the way to the expansion of a cell therapy for insulin that is always in the requirement of diabetics. He continued in his own words, " This very successful financing was driven by Novocell's stem cell engineering expertise, superb scientific team and execution of key milestones toward the development of a first-in-class cell therapy for insulin requiring diabetics. Future milestones include the preclinical development of our diabetes cell therapy, enhancement of our cancer stem cell program to create new therapies for cancer and the development of additional cell therapies based on our significant know-how and research expertise in this arena."