StemCells, Inc. Grants License to ReNeuron, Receives Stake in UK Stem Cell Company
Wednesday July 6, 7:30 am ET
PALO ALTO, Calif.--(BUSINESS WIRE)--July 6, 2005--StemCells, Inc. (NASDAQ: STEM - News) announced today that it has entered into an agreement with ReNeuron, a privately-owned UK biotech corporation. The agreement enables ReNeuron to exploit its "c-mycER" conditionally immortalized adult human neural stem cell technology for therapy and other purposes.
In return for the license, StemCells received an equity interest in ReNeuron and a cross-license to the exclusive use of ReNeuron's technology for certain diseases and conditions, including lysosomal storage diseases, spinal cord injury, cerebral palsy and multiple sclerosis. ReNeuron will supply cells for StemCells use under the cross-license.
The agreement also provides for royalties and milestone payments by each party on the achievement of various goals under the license and cross-license.
"We are delighted to have entered this partnership with ReNeuron, which we regard as the foremost stem cell company in the UK," said Martin McGlynn, president and CEO of StemCells. "We view this agreement as an initial step towards possible future collaborations between the two companies, in the neural stem cell field. ReNeuron's exclusive focus on conditionally immortalized adult human stem cell technology complements our approach of using highly purified, normal adult neural stem cells that have not been genetically modified (HuCNS-SC). The agreement also makes it possible for StemCells to pursue neural stem cell therapies for a number of neurodegenerative diseases through another channel, by using ReNeuron's conditionally immortalized cells."
"ReNeuron will be developing treatments for diseases of the central nervous system with its conditionally immortalized cells," Mr. McGlynn added. "Under our cross-license, we too can use their technology in diseases of special interest to StemCells. We believe the ultimate beneficiaries will be those afflicted with some terrible neurodegenerative diseases for which there are now no adequate treatments."
StemCells' first IND (Investigational New Drug application) is for use of HuCNS-SC in treatment of infantile and late-infantile neuronal ceroid lipofuscinosis (NCL), the most severe forms of a group of disorders commonly referred to as Batten disease; it is currently on hold. The Company has previously announced that it plans to file an IND amendment in Q3 this year, intended to address the clinical hold issues.
ReNeuron's proprietary c-mycER technology permits a single "founder" stem cell to divide indefinitely, creating large cell banks. This is done by activating the c-myc growth promoting gene when a synthetic chemical is added to the cell media. Removal of the chemical turns off the gene so that the cells stop dividing.
Michael Hunt, chief executive officer of ReNeuron, said, "We regard our agreement with StemCells as a landmark deal in the adult neural stem cell field. StemCells is without doubt a pioneer in the drive to develop viable treatments utilizing adult stem cells and we are delighted to be working with them. The agreement allows StemCells to exploit ReNeuron's proprietary c-mycER technology in further disease states not addressed by ReNeuron's own programs, and opens the way to further collaborative activity between our two companies. This can only serve to accelerate both companies' ultimate goals of bringing effective stem cell therapies to the patients who need them."
About ReNeuron Group plc
ReNeuron is a privately held UK bio-pharmaceutical company and a pioneer in stem cell research and development. It is developing cell therapy products using its proprietary c-mycER conditional immortalization technology. ReNeuron's focus is on cell therapy treatments designed to reverse the effects of major diseases. Its ReN001 stem cell therapy for stroke is now in pre-clinical development, and it has initiated programmes to develop stem cell therapies for Type 1 diabetes, Parkinson's disease, Huntington's disease and diseases of the retina.
More information on ReNeuron and its programmes can be found on the Company's website at www.reneuron.com. ... |
