 The Program enables qualifying New Jersey-based biotechnology or technology companies to sell a percentage of their NJ NOLs and research and development tax credits to unrelated qualifying corporations. The ability to convert our NJ NOLs into non-dilutive capital is an exciting development for Caladrius, especially in these challenging financial times, and we appreciate the NJEDAs commitment to supporting research and development for small New Jersey-based companies, stated David J. Mazzo, Ph.D., President and Chief Executive Officer of Caladrius. Caladrius Biosciences, Inc. is a clinical-stage biopharmaceutical company dedicated to the development of cellular therapies designed to reverse, not manage, cardiovascular disease. 