Q Therapeutics raises $15M

Salt Lake City-based Q Therapeutics has raised $15 million in a second round of financing. The company is developing cell-based therapies for the central nervous system. It is currently running preclinical studies and hopes to file an IND for a treatment for transverse myelitis, a rapidly paralyzing subset of multiple sclerosis. Q expects clinical trials to begin in 2009. VSpring Capital led the round, and Invitrogen was among a group of investors that also participated.

"This investment will help accelerate our efforts to bring important new treatments to the clinic for these extremely debilitating neurodegenerative diseases. As a leader in providing many of the necessary tools for stem cell research and production, Invitrogen's participation will further enhance our development going forward."

- see this release for more