Aruna Biomedical, Inc. Announces Technology Licensing Agreement to Commercialize the First Products Derived From Human Embryonic Stem Cells
ATHENS, Ga., Jan. 25 /PRNewswire/ — Aruna Biomedical, Inc., announced today that it has entered into a technology licensing agreement with the University of Georgia Research Foundation that will enable the company to commercialize human neural progenitor cell technology developed at the University.
Under the terms of the agreement, Aruna has acquired an exclusive worldwide license to develop and commercialize neural cells derived from human embryonic stem cells. Aruna will offer the academic and industry research communities access to much sought after, but never before available human neural cells, derived from human embryonic stem cells, that relate to normal and diseased human conditions. The cells can be used in research ranging from Alzheimer’s, spinal cord injury and Depression. Aruna anticipates launch of its first product, human neural progenitor (NP) cells, in early 2007 and add- on products will closely follow. The human NP cells will be sold and marketed through a third-party distribution partner and packaged as a kit with growth media and substrates.
“The potential impact of this product on the neural research community could be astounding,” says Aruna co-founder and CEO Steven Stice. “We are offering a product that may accelerate the pace of neurological research for tens of thousands of scientists and thereby may provide patients with possible therapies and treatments for debilitating neurological diseases and spinal cord injuries much sooner than imagined.”
“I am excited about the launch of the Neural Progenitor product,” says James Shepherd, Chairman of the Board for the Shepherd Center in Atlanta. “Getting the cells into the hands of more researchers broadens the number of [scientific] approaches being taken with them. All the stakeholders looking for results from cell therapies for their causes should be cheering Aruna’s project.”
Founded in 2003, Aruna Biomedical, Inc. is a privately held Biotechnology corporation dedicated to the discovery, manufacturing and commercialization of emerging new technologies in human embryonic stem cell research for use in drug discovery and neuroscience research.
This press release contains forward-looking statements regarding the company’s potential impact on scientific research, patient therapies and collaborations with third parties. Certain conditions could alter the outcome or progress of these statements including but not limited to unexpected manufacturing issues, product performance and quality control/assurance issues. Forward- looking statements are based on the opinions, beliefs and expectations of the company or individuals quoted in the press release and the company does not assume any obligation to update these forward-looking statements if circumstances change.
Aruna Biomedical, Inc.
CONTACT: Tracey Stice, Director of Operations of Aruna Biomedical, Inc.,+1-706-542-9191
© RedOrbit 2005