Geron and Xcellsyz Ltd. Announce Telomerase Licensing Agreement
MENLO PARK, Calif. & NEWCASTLE, England--(BUSINESS WIRE)--March 29, 2004--Geron Corporation (Nasdaq:GERN - News) and Xcellsyz Ltd. today announced that Geron has granted to Xcellsyz a nonexclusive license to Geron's human telomerase reverse transcriptase (hTERT) technology for research applications and the development of research products.
Under the terms of the agreement, Xcellsyz will use hTERT to create immortalized cell lines for in vitro use in drug discovery and screening. The license is limited to cell lines that also include a recombinant conditionally inducible oncogene, using Xcellsyz's own proprietary technology. In connection with the license, Geron will receive a license fee payment in cash and equity in Xcellsyz as well as royalties on future product sales. The other financial terms of the agreement were not disclosed.
"This agreement reflects the unique value of telomerase in biopharmaceutical research," said Calvin B. Harley, Ph.D., Geron's chief scientific officer. "The hTERT-immortalized cell lines should proliferate indefinitely while maintaining normal physical and biological characteristics. That means that Xcellsyz and purchasers of the Xcellsyz cell lines will be able to conduct repeated or long-term studies on the biology and function of the cells that would be impossible with mortal cells or with cells immortalized in ways that change their morphology or function."
Brad Hoy, CEO of Xcellsyz, said, "Access to Geron's hTERT technology for combination with our proprietary technology will greatly improve the quality and value of the human cell lines we are developing. This is critical for both our in-house drug discovery programs and our pharmaceutical customers, and we welcome Geron's endorsement of the Xcellsyz approach."
Geron's telomerase platform is supported by a broad intellectual property portfolio of more than 150 issued patents and over 90 pending applications worldwide. Issued U.S. patents include claims covering the cloned genes that encode the RNA component (hTR) and the catalytic protein component (hTERT) of human telomerase, as well as cells that are immortalized by expression of recombinant hTERT.
Geron is a biopharmaceutical company focused on developing and commercializing therapeutic and diagnostic products for cancer based on its telomerase technology, and cell-based therapeutics using its human embryonic stem cell technology.
Xcellsyz Ltd. is focused on the discovery of new drugs for diabetes and obesity through the use of novel cell-based technologies. The Company has a unique approach for the creation of conditionally immortalized cell lines. Combined with the Company's extensive scientific expertise in diabetes and obesity, Xcellsyz' cell lines offer tremendous potential for the discovery and development of novel drugs.
Xcellsyz cell lines also have wide potential applications in cell-based drug screening for other disease areas, for target discovery and validation, and in toxicity testing and drug metabolism studies. The value of Xcellsyz' approach has already been recognized by several major pharmaceutical and biotech companies that currently use Xcellsyz' cell lines and cell-based services.
Xcellsyz was founded in 2000 and has established state of the art cell biology facilities at the Bioscience Centre at the Centre for Life in Newcastle, UK.
For more information please visit www.xcellsyz.com. |
