The Medical University of South Carolina will soon play host to the Center of Economic Excellence in Cancer Stem Cell Biology and Therapy, which just received $5 million in state funds and another $5 million in matching cash.

This marks another step in the push to turn South Carolina, and Charleston, into a center for biotech research. Just last week, it was announced that a biotech incubator is coming to town, as well.

From Charleston Regional Business Journal:

The new center will be responsible for researching stem cells as a key to improving cancer patient survival rates and will have two endowed chairs in cancer cellular research and cancer bioengineering research. A search is currently under way for nationally respected researchers to fill these roles.

Andrew Kraft, director of the Hollings Cancer Center, said the new facility will “position South Carolina as a leader in this new transdisciplinary field, which merges bioengineering and biomedicine.”