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Biotech / Medical : CRIS, Curis (formerly CBMI) -- Ignore unavailable to you. Want to Upgrade?

To: SemiBull who wrote (440)	12/18/2002 4:19:00 PM
From: tuck	Read Replies (1) \| Respond to of 668

>>CAMBRIDGE, Mass., Dec. 18 /PRNewswire-FirstCall/ -- Curis, Inc. (Nasdaq: CRIS - News) announced today it has assigned and licensed Curis patent rights related to the development of cellular therapeutics for the treatment of diabetes to ES Cell International Pte Ltd (ESI), which develops stem cells as therapeutic products for various human disorders. As part of the overall transaction, ESI will assume all responsibility for future development and clinical testing of Curis' diabetes stem-cell technologies and cover FTE costs. This agreement is the latest in a series of transactions reinforcing Curis' efforts to streamline its in-house research and development, and license out non-core assets. The patent rights out-licensed to ESI from Curis consist of adult-derived progenitor/stem cell compositions of matter, fields of medical use, and progenitor/stem cell related methodologies to transform those stem cells into insulin-producing cells and other cell types important in the treatment of diabetes. Curis will also receive an equity position in ESI. "We are pleased that a company such as ESI, with its primary focus on stem-cell based therapies, will continue the development of Curis' diabetes stem-cell technologies," said Daniel R. Passeri, Curis' President and Chief Executive Officer. "This transaction will enable Curis to concentrate more of its resources into its protein and small molecule therapeutic programs which reflect Curis' greater technology strength." "The agreement with Curis enables ESI to further enhance its diabetes program and is aligned with other technology ESI is licensing in for its diabetes cell therapy development programs," said Robert Klupacs, Chief Executive Officer of ESI. "Accessing both Curis' world-class technologies and research capabilities will significantly accelerate our ability to bring cell-based therapies for diabetes to the clinic." About Curis, Inc. Curis, Inc. is generating therapies that regulate the pathways used by the body to maintain and restore health. The company focuses on signaling pathways that govern the proliferation and differentiation of cells. These same pathways control maintenance, repair, and regeneration of tissues and organs from infancy through old age. This approach has created an approved product for bone regeneration and enables Curis to build a portfolio of product candidates in neurology, kidney disease, and cancer. For more information, please visit the Curis web site at curis.com. About ES Cell International Pte Ltd ES Cell International Pte Ltd (ESI) is a regenerative medicine company and a world-leading provider of products and technologies derived from human embryonic stem (hES) cells. The company is one of the original 10 groups whose hES cells were listed on the US National Institutes of Health (NIH) Stem Cell Registry, and distributes its cell lines throughout the world. ESI is concentrating its therapeutic development resources on generating cell replacement therapies for uncontrolled Diabetics and Parkinson's disease sufferers. For more information, please visit the ESI web site at escellinternational.com.<< snip Cheers, Tuck