9th Nov 2007 07:07
Stem Cell Sciences plc09 November 2007 Press Release SCS REGAINS ALL OUTSTANDING RIGHTS TO COMMERCIALISE ITS NS CELL TECHNOLOGY PLATFORM GLOBALLY ("Stem Cell Sciences", "SCS") 9th November 2007 Stem Cell Sciences plc (AIM: STEM, ASX: STC) today announces that the companyhas secured all outstanding rights to commercialise its neural stem (NS) celltechnology for both research and stem-cell based therapies. The recovery of these rights from SCS KK (Japan) completes a series oftransactions through which SCS plc and SCS KK have become fully independentcompanies. SCS plc has retained the right to use the Stem Cell Sciences companyname in Japan and has fully divested its shareholding in SCS KK. With theconclusion of this transaction, Dr Peter Mountford, CEO of SCS plc, will leavethe Board of SCS KK. At 30 September 2007, the carrying value of SCS Groupinvestment in SCS KK was £25,000. Commenting on the agreement, Dr Mountford said: "These changes simplify ourrespective businesses, enabling both companies to focus now on their differentareas of interest and to have unhindered access to worldwide markets. Regainingfull global rights to our NS cell technology will enable us to acceleratedevelopment and licensing of these cells, which are already in successful usefor drug discovery with a number of biotechnology and pharmaceutical companies.A key focus for SCS is to ensure that we fully develop the commercial potentialof all our stem cell technologies in basic and applied research. Thistransaction will help to achieve that objective." - Ends - For further information, please contact: Stem Cell Sciences plc (United Kingdom) +44 131 662 9829Peter Mountford, President and CEO Halsin Partners (Media & Investors - EU/US) +44 20 7084 5955Mike Sinclair Stem Cell Sciences (Australia) pty ltd +61 3 9905 0600David Newton, General Manager Talk Biotech (Media & Investors - Australia/Asia) +61 422 206036Fay Weston Stem Cell Sciences llc (USA) +1 415 495 7340George Murphy, Vice President Business Development Notes to EditorsStem Cell Sciences plc (SCS, AIM: STEM, ASX: STC) is a global biotechnologycompany providing the biological infrastructure of cells and cell culture mediato the burgeoning stem cell research market. Stem Cell Sciences' core objective is to develop safe and effective cell-basedtherapies for currently incurable diseases. SCS retains all rights to itstechnology for therapeutic use and is targeting cell-based therapies forneurodegenerative disease and injury. Revenues from Stem Cell Sciences' research business are delivered via anintegrated network of business teams and regional offices in Edinburgh andCambridge (UK), Melbourne (Australia) and San Francisco (USA). This global reachprovides the Company with the direct access to markets through experiencedpersonnel and local business networks needed to drive SCS's business growth ineach region. The key challenge for the successful application of stem cells in both researchand clinical applications is the reproducible supply of pure, fullycharacterized stem cells and stem cell-derived specialised cells such as nervesand muscle. This represents a significant technological challenge that willrequire access to multiple technologies and a globally integrated stem cellinitiative. To access cutting edge technologies on a rapid and on-going basis, Stem CellSciences has built an exceptional network of highly interactive collaborationswith academic centres of excellence in the stem cell field. These collaborationshave been the source of our founding technologies and continue to provide anexpanding pipeline of products and intellectual property that are central to theCompany's strategy and success. To facilitate research and technology transfer with its major collaboratingacademic institutions, Stem Cell Sciences' business and scientific teams areusually co-located on site or adjacent to the centre of excellence inindependent company facilities. The Company's key collaborating institutesinclude the Wellcome Trust Centre for Stem Cell Research (University ofCambridge), the Institute of Stem Cell Research (University of Edinburgh), RIKENCentre for Developmental Biology (Kobe) and the Australian Stem Cell Centre(Melbourne). Academic and commercial use of stem cells in basic research and drug discoveryprovides the Company with immediate and growing revenue streams and offsets thecost of technology development for full scale cell production of SCS cell-basedtherapeutics. For further information on the company please visit:www.stemcellsciences.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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