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City invests in stem-cell tech startup
November 21, 2013

By Peggy O'Hare, San Antonio Express-News

SAN ANTONIO - The city of San Antonio will invest $200,000 in a biotech startup founded to develop new advances in stem-cell technology.

City Council voted Thursday to invest in StemBioSys, Inc. through a grant to the San Antonio Economic Development Corporation. The money will be used for stem-cell research, development and manufacturing.

StemBioSys, founded in 2010, holds two patents and has three others pending. The company has four employees and will hire at least two more in the next year.

The company was formed by Dr. Xiao-Dong Chen, a professor at University of Texas Health Science Center at San Antonio, and Dr. Steven Davis, a San Antonio dermatologist, using licensed stem-cell technology Chen created at the university.

 

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