Regenetech Signs cellXpansion™ License with Korea Stem Cell Bank
News Jan 15, 2008
Regenetech®, Inc. has announced 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 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.
Dr. David Bonner, CEO of Regenetech, said: “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.”
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