Opening of Share Offer on ASX
Stem Cell Sciences plc
20 March 2007
20 March 2007
Stem Cell Sciences plc
("Stem Cell Sciences", "SCS" or "the Company")
Opening of Share Offer on Australian Stock Exchange
Further to the announcement on 14 March 2007, Stem Cell Sciences plc, the global
biotechnology company focused on the commercialisation of stem cells and stem
cell technologies in research and cell-based therapies, confirms that its share
offer has today opened in Australia. It is anticipated that the Company's
shares will list on the Australian Stock Exchange in April 2007. A further
announcement will be made when the offer closes.
- Ends -
For further information, please contact:
Stem Cell Sciences plc 0131 662 9829
Peter Mountford, President and CEO
Hugh Ilyine, Chief Operations Officer
Sue Furber, Director of Finance
Weber Shandwick Financial 020 7067 0700
Louise Robson or James White
Notes to Editors
Stem Cell Sciences plc (AIM: STEM) is a global biotechnology company,
established in Melbourne, Australia in 1994, providing products in the
burgeoning stem cell research and drug discovery markets, in addition to the
targeted development of cell-based therapies for neurodegenerative disease and
injury.
The Company has established a leading intellectual property (IP) and technology
portfolio that enables the commercial application of stem cells in drug
discovery, providing the Company with early-stage revenue streams and technology
development for at scale cell production of SCS cell-based therapeutics. SCS
principal focus is in neurological disease. Revenues in the neurotech market,
including pharmaceuticals, devices and diagnostics, grew 10% in 2005 to US$110
billion (Neurotech Insights, Volume 2/3 April 30 2006).
SCS operates as a group of independent operations with offices and laboratories
in Edinburgh and Cambridge, UK, Kobe, Japan, Melbourne, Australia and San
Francisco, USA (office only). Each SCS facility is affiliated with an academic
centre of excellence. These include the Institute of Stem Cell Research (ISCR),
Edinburgh, UK, RIKEN Centre for Development Biology, Kobe, Japan and the
Australian Stem Cell Centre, Melbourne, Australia.
SCS has four business units, each dedicated to different aspects of the stem
cell business opportunity.
SC Proven(R) provides cell culture media (liquid formulations) and reagents that
enable the growth and differentiation of stem cells. The first SC Proven(R)
product, "ESGRO CompleteTM", a cell culture medium capable of consistent growth
of mouse embryonic stem cells without serum or feeder cell support was launched
in February 2006. This was followed by "HEScGROTM", the first animal-component
free cell culture medium to enable improved growth of human embryonic stem
cells, in January 2007. These products are manufactured and distributed by
Chemicon International, now part of Millipore Corporation.
SC Licensing licenses SCS proprietary technologies, such as Internal Ribosome
Entry Site (IRES), Stem Cell Selection, hMADS (human adipose derived stem cells)
and Neural Stem Cell Technology for application in laboratory-based research and
discovery. SCS has licensed technology to major pharmaceutical and biotechnology
companies including Merck & Co, Pfizer, Sanofi Aventis, GSK, Deltagen Inc and
Lexicon Genetics Inc and others.
SC Services provides specialised stem cell production for basic research and
drug discovery, including high-throughput applications through an automated cell
production facility in Cambridge UK. The services offered include the creation
of specific cell lines for a customer, the modification of existing cell lines
so that they can be grown in serum free SC Proven(R) media, and the supply of
cells for drug screening in multi-well plate format.
SC Therapies' goal is to develop safe and effective cell-based therapies for
currently incurable diseases. Initial research is being directed to developing
and characterising cell lines of potential therapeutic value in the treatment of
spinal injury, Parkinson's disease, eye disease, epilepsy and Duchenne Muscular
Dystrophy (DMD). Programmes to test SCS' proprietary stem cells in animal models
of spinal cord injury have been initiated in a number of disease models and
preclinical studies for the treatment of Duchenne Muscular Dystrophy are
anticipated in 2007-8.
For further information on the company please visit: www.stemcellsciences.com
This information is provided by RNS
The company news service from the London Stock Exchange
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