18th Apr 2006 07:02
ReNeuron Group plc18 April 2006 ReNeuron and Chemicon enter into agreement for exclusive sale and marketing ofReNcell neural stem cell lines Guildford, UK, 18 April 2006: ReNeuron Group plc (LSE: RENE.L) today announcesthat it has signed an agreement with Chemicon International, Inc. ('Chemicon'),a subsidiary of Serologicals Corporation (NASDAQ/NM: SERO), whereby Chemiconwill exclusively manufacture and distribute two of ReNeuron's patented ReNcellneural stem cell lines worldwide for research purposes. Under the terms of this multi-year agreement, Chemicon will exclusivelymanufacture and supply ReNeuron's ReNcell CX and ReNCell VM cell lines and mediato the worldwide stem cell research community. Chemicon will leverage itsstrength and depth in stem cell research products to offer the ReNcell linesthrough its direct sales team in North America, Australia, the UK and much ofEurope, as well as through its worldwide network of distributors. ReNeuron willreceive upfront and royalty payments on cell line and media sales made byChemicon. The ReNcell lines are immortalized human neural stem cell lines specificallygenerated by ReNeuron for application as models for regenerative medicine. Thesecell lines are fully characterized, can proliferate indefinitely and can beinduced to differentiate into the three major types of neural cells - neurons,astrocytes and oligodendrocytes - via defined media and protocols. Michael Hunt, Chief Executive Officer of ReNeuron, said: "We are delighted to be collaborating with Chemicon, a world-class reagentcompany with a clear and aggressive strategy to deliver high quality human stemcell products to the research market. This deal enables the immediatecommercial exploitation of ReNeuron's ReNcell neural stem cell products, in linewith our strategy of generating near-term income streams from our technologiesto contribute to the funding of our various longer term stem cell therapeuticprograms." Jeffrey D. Linton, President of Chemicon, said: "Chemicon is excited to collaborate with a leading company in the human stemcell field. The ReNcell lines represent a key product release for us anddemonstrate our commitment to delivering innovative, high-value reagents to thestem cell market. Well characterized human stem cell products like theseprovide a valuable research tool and will help fuel discovery in this promisingarea of research." Enquiries: ReNeuronMichael Hunt, Chief Executive Officer Tel: 44 (0)1483 302 560John Sinden, Chief Scientific Officer Financial DynamicsDavid Yates Tel: 44 (0)20 7831 3113Anna Keeble Notes to Editors About ReNeuron Group plc ReNeuron is a leading, UK-based adult stem cell therapy business. The Companyis applying its novel stem cell platform technologies in the development ofground-breaking stem cell therapies to serve significant and unmet or poorly-metclinical needs. ReNeuron has used its c-mycERTAM technology to generate genetically stableneural stem cell lines. This technology platform has multi-national patentprotection and is fully regulated by means of a chemically-induced safetyswitch. Cell growth can therefore be completely arrested prior to in vivoimplantation. The Company's lead stem cell therapy, ReN001 for chronic stroke disability, isin late pre-clinical development. Subject to successful completion ofpre-clinical testing, the Company plans to file for approval to commence initialclinical trials in stroke later this year, with trials commencing as soon aspossible thereafter. The Company has also generated pre-clinical efficacy data with its ReN005 stemcell therapy for Huntington's disease, a rare, genetic and fatalneurodegenerative disorder which affects around 1 in 100,000 people. Thisprogramme is in pre-clinical development. In addition to its stroke and Huntington's disease programmes, ReNeuron isdeveloping stem cell therapies for Parkinson's disease, Type 1 diabetes anddiseases of the retina. ReNeuron has also leveraged its stem cell technologies into non-therapeuticareas - its ReNcell range of cell lines for use in drug discovery applicationsin the pharmaceutical industry. ReNeuron's shares are traded on the London AIM market under the symbol RENE.L,and its warrants are traded under the symbol RENW.L. Further information on ReNeuron and its products can be found atwww.reneuron.com. About Serologicals Corporation Headquartered in Atlanta, Georgia, Serologicals Corporation is a global providerof biological products, enabling technologies and custom services to lifescience companies and research organizations. The Company's diverse customerbase includes major life science companies and leading research institutions.Our customers use our products, technologies and services in all facets of theiractivities, including basic research, drug discovery, development andbio-manufacturing. Our products, technologies and services are essential toolsfor research in a range of key disciplines, including oncology, hematology,immunology, cardiology, neurology, proteomics, infectious diseases, cellsignaling and stem cell research. Through its Chemicon Division, the Company also manufactures diagnostic productsat its cGMP, ISO, and TGA approved facilities. Chemicon International, Inc., awholly owned subsidiary of Serologicals Corporation, is headquartered inTemecula, California. Further information on Serologicals Corporation and Chemicon International canbe found on the companies' web sites at www.serologicals.com andwww.chemicon.com. This announcement contains forward-looking statements with respect to thefinancial condition, results of operations and business achievements/performanceof ReNeuron and certain of the plans and objectives of management of ReNeuronwith respect thereto. These statements may generally, but not always, beidentified by the use of words such as "should", "expects", "estimates","believes" or similar expressions. This announcement also containsforward-looking statements attributed to certain third parties relating to theirestimates regarding the growth of markets and demand for products. By theirnature, forward-looking statements involve risk and uncertainty because theyreflect ReNeuron's current expectations and assumptions as to future events andcircumstances that may not prove accurate. A number of factors could causeReNeuron's actual financial condition, results of operations and businessachievements/performance to differ materially from the estimates made or impliedin such forward-looking statements and, accordingly, reliance should not beplaced on such statements. The terms "ReNeuron" or "the Company" refer to ReNeuron Group plc and itssubsidiary undertakings. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
RENE.L