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California Institute For Regenerative Medicine Loan | 3 Months Ended
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Mar. 31, 2013
California Institute for Regenerative Medicine Loan [Abstract] |
California Institute for Regenerative Medicine Loan | Note 11. California Institute for Regenerative Medicine Loan In April 2013, we entered into an agreement with the California Institute for Regenerative Medicine (CIRM) under which CIRM will provide approximately $19.3 million to help fund preclinical development and IND-enabling activities of our HuCNS-SC cells for Alzheimer’s disease (the CIRM Loan Agreement). The funding was awarded in September 2012 under CIRM’s Disease Team Therapy Development Award program (RFA 10-05), and the goal of the research is to file an Investigational New Drug (IND) application with the U.S. Food and Drug Administration within four years. The funding is in the form of a forgivable loan, in accordance with mutually agreed upon terms and conditions and CIRM regulations, and is expected to be disbursed periodically by CIRM over the four-year project period subject to a number of preconditions, including the achievement of certain progress milestones and compliance with certain financial covenants. The loan is unsecured and the term of the loan is ten years, but may be extended under certain circumstances. In March 2013, we elected not to borrow funds from CIRM under a separate award under RFA 10-05. This award, also for up to $20 million in the form of a forgivable loan, was approved in July 2012 by the governing board of CIRM to help fund the study of HuCNS-SC cells as a potential treatment for cervical spinal cord injury.

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- Definition California institute for regenerative medicine funding program. + References No definition available. + Details
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