Startup Plureon Receives Up to $4M Boost for Stem Cell Research

Winston-Salem, N.C. — Plureon Corp.'s efforts in stem cell research are going to receive a boost, worth up to $4 million, from the National Institutes of Health.

The startup said Monday it had received a $1 million grant from the National Institute of Diabetes & Digestive & Kidney Diseases, which is part of NIH.

The initial grant covers two years, but could be extended and ultimately be worth as much as $4 million.

Plureon will use the finds to further develop its technology platform focused on stem cells. The Small Business Technology Transfer grant is for work in diabetes research.

The company will work with the Wake Forest Institute for Regenerative Medicine. Shay Soker of Wake Forest University School of Medicine will serve as the principal investigator for the study

“The funding not only helps accelerate potentially life-saving research in the field of diabetes, but also provides an important validation of our platform technology and of the results we have achieved to date,” said Hal Eason, chief executive officer of Plureon.

Plureon’s technology is based around what it calls a “pluripotent” stem cell that is extracted from amniotic fluid and placenta. The cells are obtained from biological material that otherwise would be discarded as waste, according to the company.

A story about Plureon’s technology was published in the January issue of Nature Biotechnology. The company was founded in 2002.