6th Oct 2005 07:00
Stem Cell Sciences plc06 October 2005 FOR IMMEDIATE RELEASE Contact: Stem Cell Sciences Weber Shandwick | Square Mile Hugh Ilyine Yvonne Alexander t: 0131 662 9829 t: 020 7067 0725 m: 07866 610682 Stem Cell Sciences Announces Agreement with Chemicon International for Manufacturing and Marketing of Novel, Serum-free, Embryonic Stem Cell Media EDINBURGH, SCOTLAND - October 6th, 2005 - Stem Cell Sciences plc (LSE: STEM)announced today that it has signed an exclusive agreement with ChemiconInternational Inc, a wholly owned subsidiary of Serologicals Corporation(NASDAQ:SERO), for the manufacture and marketing of its novel embryonic stem(ES) cell media to the research and drug discovery market. Under the terms ofthe agreement, Stem Cell Sciences (SCS) will receive an upfront licence fee,milestone payments related to technology transfer and scale-up, as well astrade-mark and royalty payments based on product sales. The total maximum valueof the deal to SCS will be in excess of US$2.5 million over the next severalyears. SCS has developed a range of ES cell media products which offer substantialimprovements over current animal-serum based media available in the market.SCS's ES cell media will change the convenience and reproducibility of growingmouse embryonic stem cells, and is an important development in the area of stemcell research. It will offer large-scale cell production capabilities, enablingthe wider application of stem cells in research for drug discovery including newmedicines targeting central nervous system (CNS) diseases such as Parkinson'sand Alzheimer's. The current embryonic stem cell growth media market is valuedin excess of US $20 million and is growing quickly. "This agreement marks a significant milestone in the commercialisation of SCS'sproprietary technologies," said Peter Mountford, CEO of Stem Cell Sciences."Chemicon, a well-established stem cell solutions provider, is well positionedto both manufacture and distribute SCS's ES cell media and leverage the marketopportunity within the global stem cell markets. This will provide SCS withsignificant revenue streams from early sales of the products." "Chemicon is excited to add these new ES cell culture media formulations to ourportfolio of innovative reagents and technologies for the global stem cellresearch community," said Jeffrey D. Linton, President of Chemicon. "These newmedia formulations will aid researchers in the passaging and selection ofmammalian ES cell lines. These new products will broaden the solutions alreadybeing provided to thousands of ES cell researchers worldwide via our LIF andESGRO(R) product lines. In addition, we look forward to furthering ourcollaboration with Stem Cell Sciences to co-develop and market additionalinnovative ES cell products." Dr Mountford added, "This agreement marks the beginning of our roll out of arange of superior performance cell culture media products for mouse and humanstem cell research needs." SCS has developed its new formulations on discoveries made at the world famousInstitute for Stem Cell Research, University of Edinburgh, led by Professor Austin Smith. Product testing in world leading laboratories has confirmed the formulation benefits. The new products will be launched globally once technology transfer and production scale-up have been completed between the parties. About Stem Cell Sciences Stem Cell Sciences (SCS) has been a leading company in the stem cell researcharena since 1994, focused on technologies to grow, differentiate, select andpurify embryonic stem cells. The SCS group has headquarters in Edinburgh, UK andlaboratories in Melbourne, Australia and Kobe, Japan. It is expanding itsoperations from 2006 to Cambridge UK and the USA. The new UK site in Cambridgewill focus on automation of cell based drug discovery assays for thepharmaceutical industry. The US expansion will initially be based on licensingopportunities of key SCS technologies, including Stem Cell Selection and novelNeural Stem cells reported in August this year. Stem Cell Sciences plc waslisted on the London AIM in July 2005. SCS has a substantial portfolio of patents and patent applications, and longterm relationships with world leading stem cell research centres. It has fourbusiness units: SC Proven, covering cell culture media and reagents; SCLicensing for technology transfer to industry; SC Services for supply of cell inwells to the pharmaceutical industry; and SC Therapies, concentrating on thelonger term development of cell based therapies. For more information, please visit our website: www.stemcellsciences.com About Chemicon International, Inc Chemicon International, Inc. offers a broad range of research products,including speciality reagents, kits, antibodies, and custom products and services, to customers working in the areas of neuroscience, stem cell biology, cancer, and infectious disease research. It is also a leading supplier of monoclonal antibodies, conjugates, antibody blends and molecular-based detection kits for use in diagnostic laboratories. Chemicon focuses on basic and biomedical research, drug discovery, and diagnostics, allowing it to serve thousands of customers worldwide in the academic, clinical, biotechnology, and pharmaceutical sectors. Acquired in 2003, Chemicon is a Serologicals company, based in Temecula, CA, USA. For more information, please visit our website: www.chemicon.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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