Healthcare Industry News: TRT
News Release - June 21, 2007
Tissue Regeneration Therapeutics Inc. Announces $20 M Stem Cell License to Stem Cell Authority Ltd. for US MarketTORONTO, ONTARIO--(Healthcare Sales & Marketing Network)--Jun 21, 2007 -- Tissue Regeneration Therapeutics Inc. (TRT) announced today the exclusive US license of its HUCPVC (human umbilical cord perivascular cell) technology to Stem Cell Authority Ltd. (SCAL) for family stem cell banking. Under the terms of the agreement, SCAL gains US patent rights and manufacturing know-how in return for an upfront technology access fee and annual minimum royalties that will exceed CAD $20 M over the next four years. SCAL is currently offering HUCPVC collection and storage services to physicians for their patients across the US.
"Stem Cell Authority Ltd. is an ideal partner for TRT for the collection of this new type of stem cell from human umbilical cords," said Dr. Jeffrey Turner CEO, TRT, "our partnership with SCAL provides parents in the United States access to this important stem cell technology."
HUCPVCs are an abundant source of therapeutic mesenchymal stem/progenitor cells that are recovered from umbilical cord tissue following birth. Unlike cord blood stem cells, mesenchymal cells are the building blocks for the muscle, bone and connective tissues of the body. HUCPVCs also serve as regulators of the immune system. Published uses of mesenchymal cells in cell therapy include autoimmune and inflammatory diseases (Crohn's, juvenile diabetes, and rheumatoid arthritis), cancer, heart disease and tissue engineering.
"Stem Cell Authority Ltd. is excited to offer this exclusive multipotent stem cell technology to American physicians for their patients," said Bernard Cardwell, Chairman and CEO of Stem Cell Authority Ltd. "This puts us in a unique position to provide the collection and banking of both the tissue and blood stem cells from the same umbilical cord."
TRT is a private, Canadian life sciences company that exclusively licensed HUCPVC technology from the University of Toronto. TRT's business model is to license HUCPVC technology to national Cord Blood Banks seeking to offer new families a mesenchymal stem cell product in addition to their existing cord blood storage. In June 2006, TRT exclusively licensed rights for the Canadian market to CReATe Cord Blood Bank in Toronto, who market HUCPVCs as Peristem(TM). TRT's preclinical and clincial development program is designed to define patient benefits for auto-immune and inflammatory diseases.
Source: Tissue Regeneration Therapeutics
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