Shares of Capricor Therapeutics (NASDAQ: CAPR) spiked 7% at the opening bell after the company announced that it has received a grant of up to $4.2 million from the National Institutes of Health to study CAP-2003 for hypoplastic left heart syndrome (HLHS). “We are excited to be part of this research effort to understand how CDC Exosomes, which are believed to be responsible for the regenerative effect of cardiosphere-derived cells, may be useful in the treatment of a serious congenital heart condition. We look forward to seeing if CAP-2003 can improve heart function, initially in pre-clinical models, and eventually in HLHS patients,” Sunjay Kaushal, M.D., Ph.D., stated in the news release. Dr. Kaushal is the associate professor of surgery at the University of Maryland School of Medicine and director of pediatric cardiac surgery at the University of Maryland Medical Center, in Baltimore.
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About Capricor Therapeutics
Capricor Therapeutics, Inc. (NASDAQ: CAPR) is a clinical-stage biotechnology company focused on the discovery, development and commercialization of biological therapies for the treatment of cardiac and other serious medical conditions. Capricor’s lead candidate, CAP-1002, is a cardiac cell therapy that is currently being evaluated for the treatment of heart disease associated with Duchenne muscular dystrophy and myocardial infarction (heart attack). Capricor is advancing its proprietary exosome product candidate, CAP-2003, for the treatment of ophthalmic disorders and is exploring other therapeutic areas. Capricor’s portfolio also features Cenderitide, a dual natriuretic peptide receptor agonist, which may have application for the outpatient treatment of advanced heart failure and other potential indications.
This award was supported by the National Heart, Lung, And Blood Institute of the National Institutes of Health under Award Number UT2HL131226. The content of this press release is solely the responsibility of the Company and does not necessarily represent the official views of the National Institutes of Health. For more information visit www.capricor.com
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