StemCells, Inc. Acquires Seminal Neural Stem Cell Patent Portfolio

barbara.lempert

NEWARK, Calif., Oct. 29, 2013 (GLOBE NEWSWIRE) — , (Nasdaq:) today announced the acquisition of a of issued US and Canadian patents to which it had previously held an exclusive worldwide license. The broadly claims the manufacture and proliferation of purified populations of human stem cells and their use as therapeutics and as tools for drug discovery. The acquisition relieves the Company of all milestone and royalty obligations under the license agreements for products claimed by the patents, such as products derived from the Company’s proprietary HuCNS-SC(R) cells (purified human stem cells). The patents arose from the groundbreaking research of Samuel Weiss, Ph.D., and Brent Reynolds, Ph.D., while at the University of Calgary. As consideration for the , the Company will issue 139,548 shares of common stock to Neurospheres Holdings Ltd., an intellectual property holding company affiliated with the University of Calgary.

“These Weiss and Reynolds patents have been recognized time and time again as the intellectual property pertaining to purified populations of human neural stem cells,” said Martin McGlynn, President and Chief Executive Officer of StemCells, Inc. “The potential value of these patents continues to grow in light of the encouraging data emerging from the clinical trials of our HuCNS-SC cells, and acquiring them outright on these terms was in the best interests of our stockholders.

“Moreover, we have sued a competitor, Neuralstem, Inc., for infringement under six of these patents. In the litigation, four of the six patents were submitted by Neuralstem for reexamination by the U.S.
Patent and Trademark Office. All four survived reexamination and we look forward to having the opportunity to prove our case of infringement against Neuralstem in court.”

Key claims of the acquired patents include, among other things, cultures of neural stem cells…Read more

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