NEWS
Regenetech signs cellXpansion™ license with Korea Stem Cell Bank
14 January 2008
Regenetech®, Inc., the tissue regeneration adult stem cell company which has built upon NASA licensed technology, is pleased to announce that it has signed a license covering the Republic of Korea for its proprietary stem cell expansion technology, cellXpansion™, with Korea Stem Cell Bank Co., Ltd. (KSCB). Financial terms for the agreement were not disclosed.
Developing a significant and reliable technology for adult stem cell growth and multiplication represents one of the most significant barriers to widespread adult stem cell therapeutic use. Regenetech believes its cellXpansion™ technology can help to achieve this. Regenetech announced in October last year that it had achieved an average 60-fold increase of CD34+38- peripheral blood progenitor cells (adult stem cells) in as few as 6 days using its Intrifuge™ cellXpansion™ system and the Company continues to research ways to further expedite the process.
Regenetech also announced late last year the signing of a country-exclusive license for its cellXpansion™ technology in Mexico with Regenevita, a new Mexican company. The Company continues to be actively engaged in licensing its technologies in the US and abroad.
Regenetech statement: “We are delighted that KSCB has chosen to partner with Regenetech and our strong cellXpansion™ technology in order to expand stem cells. Partnerships of this type are integral to the field and Regenetech's future development, and we are excited about the possibilities which this agreement will facilitate.”
For information on licensing opportunities with Regenetech, contact rclark@regenetech.com.
For further information:
| Arless Hutchinson | Tel: 832-414-9035 |
| regenetech@regenetech.com |
| Abchurch | |
About Regenetech
Regenetech is a leading adult stem cell company that uses NASA licensed technology to expand adult stem cells in a simulated weightless three-dimensional environment. The stem cells are taken from the patient’s peripheral blood and expanded before re-introducing them back into the original patient. Regenetech’s Intrifuge™ Bioreactor maintains cell-to-cell geometry and communication throughout the expansion process, which leads to more robust expansion of the required stem cells. The Company’s technologies provide the opportunity to treat serious diseases such as diabetes, heart disease and stroke; there are at least 300 million people in the US, EU and Japan who could potentially benefit from stem cell therapeutics now in development.
Regenetech has a series of agreements with prestigious universities in order to further refine its technologies and to develop potential treatments for diabetes and bone/cartilage repair. In addition, its technology is being used in trials in the field of veterinary orthopaedics, whereby the Time Varying Electro-Magnetic FieldTM, licensed from NASA, assists in the repair of broken bones in animals.
The Company has a dual track revenue strategy in order to maintain a balance between short and medium term earnings. The Company licenses out technologies for treatments, as well as progressing therapies through the usual biologics clinical trials cycle, which is significantly shorter and less costly than the conventional drugs’ clinical trials process.
For further information on the Company, go to www.regenetech.com.
About Korea Stem Cell Bank Co., Ltd.
The Korea Stem Cell Bank Co., Ltd. (KSCB) was founded to offer premium services and treatments through specialized technology which isolates and expands adult stem cells in the peripheral blood; to build up an adult stem cell database for commercialization; and to develop stem cell therapeutics in collaboration with international pharmaceutical and biotech companies. KSCB is creating a “true insurance bank” in order to improve patient quality of life by utilizing the individuals’ own adult stem cells rather than waiting for organ transplant. KSCB has two technology transfer agreements in place with Japanese companies. In December, 2006 the Company signed with NAL Co., Ltd. at 200 million Yen for five years while a 1.2 billion Yen for ten years deal was sealed on January 14, 2007. KSCB is expected to generate KRW 8 billion and KRW 30 billion in 2007 and 2008, respectively, and to list on the KOSDAQ (Korea Stock Exchange) in 2008.