ReNeuron enters into cell supply agreement with StemCells, Inc..
Guildford, UK, 18 April 2006: ReNeuron Group plc (LSE: RENE.L) today announces that it has entered into a further agreement with StemCells, Inc. ('StemCells'), a leading US, NASDAQ-quoted adult stem cell development company. The agreement provides for ReNeuron to supply StemCells with cell lines generated using ReNeuron's proprietary c-mycERTAM human stem cell immortalisation technology, for use in StemCells' areas of therapeutic focus. These cell lines will be produced to standards appropriate for clinical and commercial use, such as GMP (Good Manufacturing Practice) and US GTP (Good Tissue Practice). ReNeuron will derive a commercial return from the supply of these cell lines to StemCells.
This agreement builds on the existing cross-licence between the two companies signed in July 2005, whereby StemCells gave ReNeuron exclusive access to StemCells' adult neural stem cell patent estate for the development of ReNeuron's own c-mycERTAM neural stem cell therapies, and ReNeuron gave StemCells exclusive access to that c-mycERTAM technology for use in the development of therapies for certain diseases targeted by StemCells.
Michael Hunt, Chief Executive Officer of ReNeuron, said:
"This agreement is a logical extension of the cross-license we signed with StemCells last year, and plays to ReNeuron's key strength - the ability of its platform c-mycERTAM technology to generate clinical-grade cell line candidates that meet all appropriate regulatory requirements regarding their production. We are delighted to be consolidating further our strong links with StemCells via the provision of high quality cell lines to them, from which ReNeuron gains a valuable near-term revenue stream."
Martin McGlynn, President and Chief Executive Officer of StemCells, said:
"The assurance of a supply of c-mycERTAM cells reinforces the value of the underlying license agreement between ReNeuron and StemCells. Our primary focus continues to be on the development of unmodified human neural stem cell products for conditions affecting the central nervous system. The ReNeuron technology may prove to be an important alternative therapy for some of our disease targets, and we look forward to a very productive relationship with ReNeuron." |
