Aruna Biomedical Announces Agreement to Commercialize the Human Embryonic Stem Cells Products
News Jan 31, 2007
Aruna Biomedical, Inc. has announced that it has entered into a technology licensing agreement with the University of Georgia Research Foundation that will enable the company to commercialize human neural progenitor cell technology developed at the University.
Under the terms of the agreement, Aruna has acquired an exclusive worldwide license to develop and commercialize neural cells derived from human embryonic stem cells. Aruna will offer the academic and industry research communities access to much sought after, but never before available human neural cells, derived from human embryonic stem cells, that relate to normal and diseased human conditions.
Aruna anticipates launch of its first product, human neural progenitor (NP) cells, in early 2007 and add- on products will closely follow. The human NP cells will be sold and marketed through a third-party distribution partner and packaged as a kit with growth media and substrates.
"The potential impact of this product on the neural research community could be astounding," says Aruna co-founder and CEO Steven Stice.
"We are offering a product that may accelerate the pace of neurological research for tens of thousands of scientists and thereby may provide patients with possible therapies and treatments for debilitating neurological diseases and spinal cord injuries much sooner than imagined," Stice said.
"I am excited about the launch of the Neural Progenitor product," says James Shepherd, Chairman of the Board for the Shepherd Center in Atlanta.
"Getting the cells into the hands of more researchers broadens the number of [scientific] approaches being taken with them. All the stakeholders looking for results from cell therapies for their causes should be cheering Aruna's project."