The two will collaborate to help find a safe treatment for Alzhimer's disease.
The University of South Florida and Tampa-based Saneron-CCEL Therapeutics Inc. will receive $2.6 million from the National Institutes of Health over the next three years for their work on treatments for Alzhimer's disease.
Having already completed some research on the transplantation of human umbilical cord blood cells into animal models of Alzheimer's, the next step will be moving into the clinical phase of tests.
The research effort will receive additional funding from the USF Connect program, a release said.
Saneron-CCEL Therapeutics Inc. is headquartered at the Tampa Bay Technology Incubator, and is an affiliate of Cryo-Cell International Inc., a company profiled by the Business Review in 2008.