Bio-Matrix Scientific Group has announced retaining a private grant research and development firm to aggressively pursue private and public sector grant funding for stem cell research.

The company hopes to attract funding to boost research specifically in the area of stem cell therapy for chronic obstructive pulmonary disease (COPD) conducted by Entest BioMedical.

Bio-Matrix’s chairman and CEO David Koos said that utilising a firm that specialises in sourcing private and public sector grant funding will allow the company to move its research forward much faster.

“We believe our research in COPD could offer dramatic improvement and new hope for patients suffering from this debilitating condition,” Koos said.

Entest is preparing to undertake small sample testing of its patent-pending stem cell technology for COPD.

The company hopes to use grant funding to allow the company to move towards filing an Investigational New Drug application with the US Food and Drug Administration in anticipation of large-scale clinical trials.

According to the company, private and public organisations are extremely interested in supporting stem cell therapy research to treat COPD, the cost of which is projected to exceed $800bn over the next 20 years.