ICAD Client CET Receives $50,000 from State

Cellular Engineering Technologies of Iowa City received $50,000 from the state of Iowa to develop a more efficient technology platform to make adult stem cells for use in medical research, drug development and clinical therapy.

Officials said the company's stem cell product could replace highly controversial embryonic cells. "They pose no ethical controversy ... and offer Iowa a significant economic development opportunity," the state said.

The clinical regenerative medicine market is expected to reach $9 billion in 2016 and grow 12 percent each year.