StemCells, Inc. announced that a major international pharmaceutical company has taken a non-exclusive license to the company's recently acquired Internal Ribosome Entry Site (IRES) technology.
The IRES technology enables the dual expression of a protein of interest and a selectable marker, thereby enabling researchers to genetically modify any mammalian cell and monitor the activity of a particular gene of interest in living cells or tissues without blocking the normal function of the gene. The IRES technology is particularly important for evaluating the success of gene knock-outs or knock-ins in stem cells, as well as the successful creation of transgenic mouse and rat disease models. The IRES technology and related intellectual property (US Patent Nos. 6,150,169, 7,005,299; EPO Patent No. 695361) were part of the company's acquisition of the operating assets of Stem Cell Sciences Plc (SCS).
The financial terms of the license are confidential. In the past seven months, SCS has entered into three non-exclusive license agreements with major pharmaceutical and research-based companies, and revenues under these licenses exceed $1.2 million.
"We are pleased that the pharmaceutical industry continues to recognize the value of this enabling technology and its importance in their research and development efforts," said Martin McGlynn, president and CEO of StemCells. "We intend to continue actively licensing those in the field who are using this technology for their own R&D activities."
StemCells, Inc. is a clinical-stage biotechnology company focused on the discovery, development and commercialization of cell-based therapeutics to treat diseases of the central nervous system and liver. StemCells' product development programs seek to repair or repopulate CNS and liver tissue that has been damaged or lost as a result of disease or injury.