20th Feb 2007 07:02
Stem Cell Sciences plc20 February 2007 20 February 2007 STEM CELL SCIENCES LICENSES NEURAL STEM CELL TECHNOLOGY TO MERCK & CO., INC. AGREEMENT INCLUDES LICENSE FEE AND DEVELOPMENT MILESTONE PAYMENTS ("Stem Cell Sciences", "SCS" or "the Group") Stem Cell Sciences plc, (LSE: AIM, "STEM") has licensed the use of their novelmouse neural stem cell technology to Merck & Co., Inc. for research use.Financial terms were not disclosed, but include a signing fee and milestonepayments. SCS believes NS cells have potential broad research applications. Thisincludes their use in target identification/validation studies, as well as insmall molecule library screening applications. The cells and technology will be supplied by SCS from its newly opened facilityin Cambridge, UK, where the Group offers a range of services to thebio-pharmaceutical industry through its SC Services business unit. With itsstate of the art automated cell culture equipment, SC Services provides thecapability for the routine growth of stem cells including NS cells in thenumbers required for high content drug screens and assays. Furthermore, SCServices offers conversion of serum based cell lines to serum free systems,specialist genetic engineering and contract cell production. In commenting on the agreement, David Dodd, Chairman of SCS, said: "We're verypleased to see our mouse neural stem cells being licensed by Merck and othersthroughout the pharmaceutical industry. Our strategy includes working with keypartners to expand the widespread use of stem cells in drug discovery. - Ends- For further information, please contact: Stem Cell Sciences plcPeter Mountford, President and CEO 0131 662 9829Hugh Ilyine, Vice President and Chief Operating OfficerSue Furber, Director of Finance & Company Secretary Weber Shandwick FinancialLouise Robson or James White 020 7067 0700 About Stem Cell Sciences plc Stem Cell Sciences plc (SCS, AIM: STEM) is a global biotechnology company,established in Melbourne, Australia in 1994, providing products in theburgeoning stem cell research and drug discovery markets, in addition to thetargeted development of cell-based therapies for neurodegenerative disease andinjury. The Company has established a leading intellectual property (IP) and technologyportfolio that enables the commercial application of stem cells in drugdiscovery, providing the Company with early-stage revenue streams and technologydevelopment for at scale cell production of SCS cell-based therapeutics. SCSprincipal focus is in neurological disease. Revenues in the neurotech market,including pharmaceuticals, devices and diagnostics, grew 10% in 2005 to US$110billion - Neurotech Insights, Volume 2/3 April 30 2006. SCS operates as a group of independent operations with laboratories in Scotland,Japan and Australia, each of which is affiliated with an academic centre ofexcellence. These include the Institute of Stem Cell Research (ISCR), Edinburgh,UK, RIKEN Centre for Development Biology, Kobe, Japan and the Australian StemCell Centre, Melbourne, Australia. SCS has four business units focused on key sustainable business strategies. SC Proven(R) provides cell culture media (liquid formulations) and researchreagents that enable the growth and differentiation of stem cells. Commerciallyavailable products include a novel, serum-free, feeder-free mouse stem cellgrowth medium, and a novel animal component free human stem cell medium. Theseare both exclusively licensed for manufacture and marketing to Chemicon, part ofMillipore Corporation. SC Licensing licenses SCS proprietary technologies, such as Internal RibosomeEntry Site (IRES) and Stem Cell Selection, for application in laboratory-basedresearch and discovery. SCS has licensed technology to major pharmaceutical andbiotechnology companies including Pfizer, Sanofi Aventis, GSK, Deltagen Inc andLexicon Genetics Inc. SC Services provides specialised stem cell production for basic research anddrug discovery, including high-throughput applications. SC Therapies' goal is to develop safe and effective cell-based therapies forcurrently incurable diseases. SCS is conducting preclinical evaluations of itsneural stem cell lines in a number of therapeutic applications. The firstpreclinical programme being undertaken by SCS is in spinal cord injury repair.Its Japanese affiliate SCS KK will conduct preclinical studies for the treatmentof Duchenne Muscular Dystrophy in 2007-8. 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:
SThree