Company News |In The News | Archive – 2004 | 2005 | | 2007 | 2008
June 19, 2006 – SmartCells, Inc. Receives Phase II SBIR Grant from NIH
On June 16, 2006 the National Institutes of Health (NIH) awarded SmartCells, Inc. a Phase II SBIR grant providing $749,991 over one year to support pharmacokinetic, toxicity and serum half-life studies that are part of the SmartInsulin product development plan.
June 8, 2006 – Cherrystone invests in two startup firms
(Providence Business News)
“What we liked about SmartCells was its innovative approach to a major disease class, the quality of its science and people, and the business model it has developed.”
May 26, 2006 - SmartCells Completes Series B Financing
SmartCells, Inc. completed its $1.25 million Series B financing on May 25, 2006, with both returning and new investors participating in the oversubscribed round. Returning investors include members of the Boston chapter of the Keiretsu Forum and Angel Healthcare Investors of Newton, MA. New investors include members of Beacon Street Angels (Boston, MA), Cherrystone Angels (Providence, RI) and the San Diego chapter of the Keiretsu Forum.
Dr. Todd C. Zion, SmartCells’ co-founder, President and CEO said, “The proceeds from our second round of financing will allow us to accomplish important objectives as we move to IND-enabling work on SmartInsulin, our glucose-responsive, once-a-day insulin formulation. I am pleased that so many of our Series A investors participated again and that several more angel groups have chosen to invest in our company”.