26th Feb 2007 08:00
ReNeuron Group plc26 February 2007 ReNeuron gains revenue-share on new cell line patent Guildford, UK, 26 February 2007: ReNeuron Group plc today announces that it hasentered into a revenue-sharing agreement with the international Ludwig Instituteof Cancer Research (LICR) and the Dana-Farber Cancer Institute, Boston, US,concerning newly-patented research conducted by these institutions on certaingene-based somatic cell expansion technology. ReNeuron's entitlement to revenues generated from the commercial exploitation ofthis technology stems from a pre-existing agreement between ReNeuron and theLICR going back to 1998. The expansion technology developed at the LICR and Dana-Farber concerns thecontrolled expansion, or conditional immortalisation, of a range of somaticcells using the SV40 Large T Antigen with a gene variant that renders the celllines genetically stable and therefore suitable for a range of commercial drugdiscovery applications. The cell expansion technology has been patented in all major territoriesworldwide, and, together with an earlier patent in which ReNeuron also has acommercial interest, was licensed in January 2005 to a subsidiary of theUS-based Cambrex Corporation. This subsidiary was recently sold to Lonza aspart of the acquisition by Lonza of the Cambrex Bio-Businesses. The licensedrights to the cell expansion technology have consequently been transferred toLonza as part of this transaction. ReNeuron will receive a share of upfrontpayments and ongoing royalties emanating from this, and any further, licencedeals relating to these patents. John Sinden, Chief Scientific Officer of ReNeuron, said: "We are pleased to have secured a revenue share over this potentially valuabletechnology. Although unrelated to ReNeuron's own c-mycERTAM cell expansionplatform, this deal gives us a stake in an alternative, commercial cell-basedtechnology, providing ReNeuron with a further near-term revenue stream." Enquiries: ReNeuron John Sinden, Chief Scientific Officer Tel: 44 (0)1483 302 560Michael Hunt, Chief Executive Officer Financial Dynamics David Yates Tel: 44 (0)20 7831 3113Nicola Daley Notes to Editors About the Ludwig Institute for Cancer Research The Ludwig Institute for Cancer Research is the largest internationalnot-for-profit institute dedicated to understanding and controlling cancer. Withoperations at 43 sites in 15 countries, the scientific network that is LICRquite literally spans the globe. LICR has developed an impressive portfolio ofreagents, knowledge, expertise, and intellectual property, and has alsoassembled the personnel, facilities, and practices necessary to patent,clinically evaluate, license, and thus translate, the most promising aspects ofits own laboratory research into cancer therapies. About the Dana-Farber Cancer Institute Dana-Farber Cancer Institute (www.dana-farber.org) is a principal teachingaffiliate of the Harvard Medical School and is among the leading cancer researchand care centres in the US. It is a founding member of the Dana-Farber/HarvardCancer Center (DF/HCC), designated a comprehensive cancer center by the USNational Cancer Institute. About ReNeuron ReNeuron is a leading, UK-based adult stem cell therapy business. It isapplying 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. ReNeuron has filed for approval to commence initial clinical studies in the USwith its lead ReN001 stem cell therapy for chronic stroke disability. Thisrepresents the world's first such filing concerning a neural stem cell treatmentfor a major neurological disorder. ReNeuron has also generated pre-clinicalefficacy data with its ReN005 stem cell therapy for Huntington's disease, agenetic and fatal neurodegenerative disorder that affects around 1 in 10,000people. This programme is in pre-clinical development. In addition to itsstroke and Huntington's disease programmes, ReNeuron is developing stem celltherapies for Parkinson's disease, Type 1 diabetes and diseases of the retina. ReNeuron has also leveraged its stem cell technologies into non-therapeuticareas - its ReNcellTM range of cell lines for use in research and in drugdiscovery applications in the pharmaceutical industry. ReNeuron's ReNcellTM CXand ReNcellTM VM neural cell lines are marketed worldwide under license byMillipore Corporation. ReNeuron's shares are traded on the London AIM market under the symbol RENE.L. Further information on ReNeuron and its products can be found atwww.reneuron.com. Data sources: UK Stroke Association; American Stroke Association. 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', 'the Company' or 'the Group' used in this statement referto ReNeuron Group plc and/or its subsidiary undertakings, depending on thecontext. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
RENE.L