16th Aug 2005 07:00
Stem Cell Sciences plc16 August 2005 16 August 2005 Stem Cell Sciences to commercialise breakthrough neural stem cell technology Stem Cell Sciences plc ("SCS"), the Edinburgh based stem cell company whichrecently listed on the Alternative Investment Market, is pleased to announce itsexclusive license to new patented technology to derive and grow neural stemcells. This announcement follows the publication this week of a unique technique forgrowing brain cells from neural stem cells, published by SCS's collaboratingacademic researchers at the Universities of Edinburgh and Milan. The discoveryhas been assisted by financing through the EuroStemCell Framework VI program, aworld-leading consortium of European research institutes and companies. Dr Peter Mountford, CEO of SCS said: "Being able to grow pure brain cells is anexciting prospect for the Company. SCS sees new business opportunities in bothcell-based drug discovery and cell-based therapies for neurological disorders". Expanding on Dr. Mountford's comments, Dr Tim Allsopp, Chief Science Officer ofSCS added: "The remarkable stability and purity of the cells is something uniquein the field of tissue stem cells and a great step forward. We have already hada number of approaches from pharmaceutical companies interested in using thesecells to test and develop new drugs, and are looking forward to working withthem to further develop and license the technology". Cell based discovery is becoming increasingly mainstream in the pharmaceuticalindustry as it provides better information about new drug candidates than otherlaboratory based systems. Stem cells offer unique advantages for this discoveryand will be used increasingly as improved cell culture media and automationbrings with it higher reproducibility and lower costs. Dr Mountford commented: "A further significant benefit from this new technologyis that it can lead to reduced need for animal testing in drug development -something which is welcomed by the public, governments and industry alike". The EuroStemCell project financed by the European Union and linking Europeanacademic researchers with industry participants has been designed to acceleratethe 'research to commercialisation' pathway. This new discovery represents someof the first fruits of this high calibre collaboration. Notes to Editors: Stem Cell Sciences plc was founded in 1994 to commercialise the work ofProfessor Austin Smith and Dr Peter Mountford at the University of Edinburgh.In 2000 Stem Cell Sciences UK was established, followed by Stem Cell Sciences KKJapan in April 2002 with the objective of collaborative research with the RIKENCentre for Developmental Biology (RIKEN CDB) in Kobe, Japan. In July 2003, withthe incorporation of Stem Cell Sciences Holdings in Scotland, Edinburgh becamethe Group's headquarters. On 18 July 2005, Stem Cell Sciences listed on the London Stock Exchange'sAlternative Investment Market (AIM) under the code STEM). EuroStemCell is an Integrated Project of the European Union's Sixth FrameworkProgramme and will receive up to Euro11.9 million in funding from the EU. The 24participating laboratories are from Scotland, England, Sweden, France, Denmark,Italy Germany and Switzerland. They comprise universities, research institutesand 3 biotechnology companies. EuroStemCell's mission is to build the scientificfoundations required to take stem cell technology to the clinic. Furtherinformation on EuroStemCell is available at www.eurostemcell.org Stem cells are undifferentiated (un-specialised) cells which can divide to makecopies of themselves or differentiate (change) to become specialised cells of aspecific tissue such as neural cells or blood cells. Neural stem cells are stem cells found in the brain which have the ability tomake all the different cells of the nervous system: neurons, astrocytes (one ofthe large neuroglia cells of neural tissues) and oligodendrocytes (cells thatprovide insulation to nerve cells by forming a myelin sheath around axons). Issued on behalf of Stem Cell Sciences plc by Trimedia Communications. For further information contact: Nicky Hawkins T: + 44 (0)131 272 2715 M: + 44 (0)7733 124052 [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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