Pfizer bankrolls a stem cell start-up

Pfizer is bankrolling a biotech start-up that will concentrate on developing new stem cell therapies for eye disease. Scripps Research Institute's Martin Friedlander has undertaken animal studies that identified bone and blood-marrow stem cells that could repair damaged blood vessels in the eye. And the new company, EyeCyte, will be responsible for advancing that research into the clinic. Pfizer is investing $3 million in the company and has an option to buy it if continues to look promising.

"Pfizer has put its flag in the ground that there is a future in regenerative medicine," said Pfizer's Corey Goodman.

- here's Pfizer's release
- read the report from Forbes