Re Agreement
ReNeuron Group plc
18 April 2006
ReNeuron and Chemicon enter into agreement for exclusive sale and marketing of
ReNcell neural stem cell lines
Guildford, UK, 18 April 2006: ReNeuron Group plc (LSE: RENE.L) today announces
that it has signed an agreement with Chemicon International, Inc. ('Chemicon'),
a subsidiary of Serologicals Corporation (NASDAQ/NM: SERO), whereby Chemicon
will exclusively manufacture and distribute two of ReNeuron's patented ReNcell
neural stem cell lines worldwide for research purposes.
Under the terms of this multi-year agreement, Chemicon will exclusively
manufacture and supply ReNeuron's ReNcell CX and ReNCell VM cell lines and media
to the worldwide stem cell research community. Chemicon will leverage its
strength and depth in stem cell research products to offer the ReNcell lines
through its direct sales team in North America, Australia, the UK and much of
Europe, as well as through its worldwide network of distributors. ReNeuron will
receive upfront and royalty payments on cell line and media sales made by
Chemicon.
The ReNcell lines are immortalized human neural stem cell lines specifically
generated by ReNeuron for application as models for regenerative medicine. These
cell lines are fully characterized, can proliferate indefinitely and can be
induced 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 reagent
company with a clear and aggressive strategy to deliver high quality human stem
cell products to the research market. This deal enables the immediate
commercial exploitation of ReNeuron's ReNcell neural stem cell products, in line
with our strategy of generating near-term income streams from our technologies
to contribute to the funding of our various longer term stem cell therapeutic
programs.'
Jeffrey D. Linton, President of Chemicon, said:
'Chemicon is excited to collaborate with a leading company in the human stem
cell field. The ReNcell lines represent a key product release for us and
demonstrate our commitment to delivering innovative, high-value reagents to the
stem cell market. Well characterized human stem cell products like these
provide a valuable research tool and will help fuel discovery in this promising
area of research.'
Enquiries:
ReNeuron
Michael Hunt, Chief Executive Officer Tel: 44 (0)1483 302 560
John Sinden, Chief Scientific Officer
Financial Dynamics
David Yates Tel: 44 (0)20 7831 3113
Anna Keeble
Notes to Editors
About ReNeuron Group plc
ReNeuron is a leading, UK-based adult stem cell therapy business. The Company
is applying its novel stem cell platform technologies in the development of
ground-breaking stem cell therapies to serve significant and unmet or poorly-met
clinical needs.
ReNeuron has used its c-mycERTAM technology to generate genetically stable
neural stem cell lines. This technology platform has multi-national patent
protection and is fully regulated by means of a chemically-induced safety
switch. Cell growth can therefore be completely arrested prior to in vivo
implantation.
The Company's lead stem cell therapy, ReN001 for chronic stroke disability, is
in late pre-clinical development. Subject to successful completion of
pre-clinical testing, the Company plans to file for approval to commence initial
clinical trials in stroke later this year, with trials commencing as soon as
possible thereafter.
The Company has also generated pre-clinical efficacy data with its ReN005 stem
cell therapy for Huntington's disease, a rare, genetic and fatal
neurodegenerative disorder which affects around 1 in 100,000 people. This
programme is in pre-clinical development.
In addition to its stroke and Huntington's disease programmes, ReNeuron is
developing stem cell therapies for Parkinson's disease, Type 1 diabetes and
diseases of the retina.
ReNeuron has also leveraged its stem cell technologies into non-therapeutic
areas - its ReNcell range of cell lines for use in drug discovery applications
in 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 at
www.reneuron.com.
About Serologicals Corporation
Headquartered in Atlanta, Georgia, Serologicals Corporation is a global provider
of biological products, enabling technologies and custom services to life
science companies and research organizations. The Company's diverse customer
base includes major life science companies and leading research institutions.
Our customers use our products, technologies and services in all facets of their
activities, including basic research, drug discovery, development and
bio-manufacturing. Our products, technologies and services are essential tools
for research in a range of key disciplines, including oncology, hematology,
immunology, cardiology, neurology, proteomics, infectious diseases, cell
signaling and stem cell research.
Through its Chemicon Division, the Company also manufactures diagnostic products
at its cGMP, ISO, and TGA approved facilities. Chemicon International, Inc., a
wholly owned subsidiary of Serologicals Corporation, is headquartered in
Temecula, California.
Further information on Serologicals Corporation and Chemicon International can
be found on the companies' web sites at www.serologicals.com and
www.chemicon.com.
This announcement contains forward-looking statements with respect to the
financial condition, results of operations and business achievements/performance
of ReNeuron and certain of the plans and objectives of management of ReNeuron
with respect thereto. These statements may generally, but not always, be
identified by the use of words such as 'should', 'expects', 'estimates',
'believes' or similar expressions. This announcement also contains
forward-looking statements attributed to certain third parties relating to their
estimates regarding the growth of markets and demand for products. By their
nature, forward-looking statements involve risk and uncertainty because they
reflect ReNeuron's current expectations and assumptions as to future events and
circumstances that may not prove accurate. A number of factors could cause
ReNeuron's actual financial condition, results of operations and business
achievements/performance to differ materially from the estimates made or implied
in such forward-looking statements and, accordingly, reliance should not be
placed on such statements.
The terms 'ReNeuron' or 'the Company' refer to ReNeuron Group plc and its
subsidiary undertakings.
This information is provided by RNS
The company news service from the London Stock Exchange