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Biotech / Medical : STEM -- StemCells, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (466)	5/11/2000 9:39:00 AM
From: scaram(o)uche	Read Replies (1) \| Respond to of 805

Modex news...... Thursday May 11, 7:03 am Eastern Time Company Press Release Geron and Modex Announce License Agreement for Encapsulated Cell-based Therapeutic Protein Delivery Products MENLO PARK, Calif. and LAUSANNE, Switzerland--(BUSINESS WIRE)-- May 11, 2000--Geron Corporation (Nasdaq:GERN - news) and Modex Therapeutics, S.A. announced today the signing of a non-exclusive license agreement for the use of Geron's proprietary telomerase technology in Modex's Encapsulated Cell Therapy (ECT) system. The combination of these two technologies will enhance the ECT system, which uses implantable, encapsulated human cells that are genetically engineered for continuous, long-term delivery of therapeutic proteins for the treatment of chronic diseases. Telomerase will be used to establish stable, immortalized human cell lines which can undergo multiple rounds of genetic engineering and subsequently secrete the therapeutic proteins. Under the terms of the agreement, Geron and Modex will share all income that Modex receives for products developed and commercialized under the license. Financial terms of the agreement were not disclosed. ``This is an important application of telomerase cellular life span extension technology, exemplifying one of the potential ways that telomerase can enhance the value of therapeutic products based on genetically engineered cells,'' said David L. Greenwood, senior vice president and chief financial officer of Geron. ``Modex is a leader in encapsulation technology and the ECT system has broad clinical applicability.'' ``We are very pleased to collaborate with Geron on the ECT technology,'' said Dr. Jacques Essinger, chief executive officer of Modex. ``We are using the telomerase technology to generate a stable, immortalized human cell line which we can grow in large quantities with consistent characteristics. Such a 'backbone' cell line has the potential to serve as a core component of our ECT technology across multiple clinical indications, and will be important for developing clinically and commercially acceptable encapsulated cell-based protein delivery products.'' Modex Therapeutics is a Swiss biodevelopment company focused on developing technologies and product candidates to a mature stage in the areas of human tissue repair, replacement and regeneration. Geron is a biopharmaceutical company focused on discovering, developing and commercializing therapeutic and diagnostic products for applications in oncology, drug discovery and regenerative medicine. Geron's product development programs are based upon three patented core technologies: telomerase, human pluripotent stem cells and nuclear transfer. Statements in this press release regarding product development and future applications of Geron's technology constitute forward-looking statements that are subject to certain risks and uncertainties. Actual results may differ materially from the results anticipated in these forward-looking statements. Additional information on potential factors that could affect the company's results is included in the company's Annual Report on Form 10-K for the year ended December 31, 1999. Statements in this press release regarding product development and future applications of Modex's technology constitute forward-looking statements that are subject to certain risks and uncertainties. Actual results may differ materially from the results anticipated in these forward-looking statements. Contact: Geron Corporation Investor and Media Relations Nancy Robinson, 650/473-7765 or Modex Therapeutics, S.A. David R. Jones, +41-21-620-6000 or Burns McClellan Investor Inquiries Dennis Schwartz, 212/213-0006