SanBio Co. Ltd. announced that on January 26, 2018 it received $4.5 million from the California Institute of Regenerative Medicine (CIRM) as part of a $20 million grant in total (hereafter the grant) for completing enrollment of all subjects in the Phase 2b clinical trial of the regenerative cell medicine SB623 for the treatment of chronic stroke being jointly conducted in the U.S. with Sunovion Pharmaceuticals Inc., an indirect, wholly-owned subsidiary of Sumitomo Dainippon Pharma Co. Ltd. The grant is received in installments as development milestones shown below are achieved based on the contract agreed with CIRM.