StemCells, Inc.'s New Patent Strengthens Its Leadership in the Discovery and Use of Monoclonal Antibodies for Isolating Rare Cells
PALO ALTO, Calif. (June 6, 2008) – StemCells, Inc. (NASDAQ: STEM) today announced that the U.S. Patent and Trademark Office has issued Patent Number 7,381,561 claiming the use of additional monoclonal antibodies for the prospective isolation of rare cells from human neural tissue, such as the Company’s HuCNS-SC ® product candidate (purified human neural stem cells). The discovery and use of monoclonal antibodies to prospectively isolate rare cells, combined with its expertise in cell biology, has been a critical component of the Company’s successes to date.
“A major challenge in the field of cellular therapeutics is to consistently deliver a pure and safe population of the cells of interest,” said Ann Tsukamoto, Ph.D., the Chief Operating Officer of StemCells, Inc. “We have generated an extensive library of proprietary monoclonal antibodies and have leveraged our expertise in cell biology and monoclonal antibodies to help us meet this challenge.”
“The named inventors on the ‘561 patent are Company scientists,” added Martin McGlynn, the Company’s President and CEO. “They are part of a scientific team that has an unparalleled record of finding extremely rare human cells. I would like to take this opportunity to recognize the valuable contributions made by all our scientists towards the achievement of our mission. Through their ingenuity and hard work, we have built a powerful discovery platform. Collectively, they have been responsible for the isolation and purification of the human hematopoietic stem cell and our proprietary cells, the HuCNS-SC human neural stem cell, the hLEC liver engrafting cell population, and a candidate human pancreatic stem cell.”
The Company owns or has exclusive rights to more than 50 issued or allowed U.S. patents and more than 150 granted or allowed non-U.S. patents. Most of these have application to the selection, expansion or use of neural stem cells, and include claims which cover compositions of matter, methods of identifying, isolating and enriching neural stem and progenitor cell populations, and methods of using these cells for therapeutic applications as well as for drug discovery and screening. Many of the Company’s patents, such as U.S. Patent Number 7,153,686, claim populations of enriched HuCNS-SC cells discovered by StemCells’ scientists using the Company’s monoclonal antibody technologies.
About StemCells, Inc.
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. The Company’s 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. StemCells has pioneered the discovery and development of HuCNS-SC ® cells, its highly purified, expandable population of human neural stem cells. StemCells has completed enrollment and dosing of a six patient Phase I clinical trial of its proprietary HuCNS-SC product candidate as a treatment for neuronal ceroid lipofuscinosis (NCL) and expects the trial to be completed in early 2009. NCL, which is often referred to as Batten disease, is a rare and fatal neurodegenerative disease that affects infants and young children. Further information about the Company is available on its web site at: www.stemcellsinc.com.
Apart from statements of historical fact, the text of this press release constitutes forward-looking statements regarding, among other things, the future business operations of StemCells, Inc. (the “Company”) and its ability to conduct clinical trials as well as its research and product development efforts. The forward-looking statements speak only as of the date of this news release. StemCells does not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. Such statements reflect management’s current views and are based on certain assumptions that may or may not ultimately prove valid. The Company’s actual results may vary materially from those contemplated in the forward-looking statements due to risks and uncertainties to which the Company is subject, including uncertainties regarding the Company’s ability to obtain the increased capital resources needed to continue its current operations and to conduct the research, preclinical development and clinical trials necessary for regulatory approvals and continued patent prosecution efforts; uncertainty regarding the validity and enforceability of the Company’s existing patents, which may be questioned or contested through requests for reexamination and other legal proceedings; and other factors that are described under the heading “Risk Factors” in Item 1A of the Company’s Annual Report on Form 10-K.
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CONTACT: StemCells, Inc.
Rodney Young
Chief Financial Officer
650-475-3100, Ext. 105
irpr@stemcellsinc.com
SOURCE: StemCells, Inc.
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