Stem cell technology-based regenerative medicine (RM) has the potential to transform healthcare worldwide over the next decade by providing new approaches for treating fundamental mechanisms of disease. We are leveraging our stem cell technology platform and customized human cell assays to discover and rescue small molecule drugs with regenerative and therapeutic potential for CNS and other diseases. In addition, we are focused on collaborating with others to develop and commercialize potential regenerative medicine and cell therapy applications of our stem cell technology involving blood, bone, cartilage, heart and liver cells. In December 2016, we entered into an exclusive sublicense agreement with BlueRock Therapeutics L.P, a next generation regenerative medicine company established by Bayer AG and Versant Ventures, for our rights to proprietary technologies relating to the production of cardiac stem cells for the treatment of heart disease. We received an upfront payment, with potential additional milestone payments and royalties in the future.