Cryo-Cell Announces Research Collaboration Agreement with Saneron CCEL Therapeutics
News Feb 04, 2008
Cryo-Cell International Inc. has announced that it has formalized a research and development agreement with Saneron CCEL Therapeutics, Inc. (Saneron) that represents an important milestone in efforts to develop promising regenerative therapies utilizing Cryo-Cell's C'elle(SM) (pronounced "C-L") menstrual stem cell technology.
Cryo-Cell and Saneron will collaborate on research involving C'elle stem cell technology in pre-clinical models for certain neurological diseases and disorders. C'elle stem cells are derived from menstrual flow, which results from the shedding of the uterine lining (endometrium) during menstruation and contains millions of stem cells that have many properties and characteristics similar to those of both bone marrow and embryonic stem cells.
"Cryo-Cell is excited to leverage on our long relationship with Saneron, a globally recognized leader in neurological stem cell research and development, to explore utilization of C'elle menstrual stem cells in the development of potential breakthrough therapies for three very devastating disorders," stated Julie Allickson, PhD., Cryo-Cell's Vice President of Laboratory Operations and Research & Development.
"We eagerly anticipate emerging research developments from Saneron related to prospective applications that may utilize the Company's novel technology and innovative proprietary service," Allickson added.
Nicole Kuzmin-Nichols, MBA, Saneron's Senior Vice President -- Corporate Development and Operations, stated, "We are very pleased to partner with Cryo-Cell to commence pre-clinical studies necessary to advance the utilization of C'elle menstrual stem cells in developing potential therapies for debilitating neurological disorders that impact millions of lives."
Under terms of the agreement, the Company will provide C'elle menstrual stem cells along with proprietary methodology associated with the technology. Saneron will provide study materials and develop research methodology for potential therapeutic applications associated with designated pre-clinical applications.
Intellectual property resulting from this research collaboration will be jointly owned by the parties. Cryo-Cell owns an approximately 38% equity interest in Saneron CCEL.
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