CAMBRIDGE, U.K., April 20, 2004 (PRIMEZONE) -- For immediate release 20 April 2004
CYTOMYX HOLDINGS PLC
CYTOMYX LICENSES CELL LINES FROM CELLFACTORS
Cytomyx Holdings plc (AIM: CYX), the leading provider of drug discovery products and services, today announces that it has entered into a new agreement with CellFactors plc to develop and commercialise a range of human brain derived cell lines that were created by researchers at CellFactors, the privately held biotechnology company.
The NeuCell cell lines are a series of conditionally immortalised neuronal cells that will be useful in a range of drug discovery applications. The cells closely resemble the tissues from which they originate in the brain, and are suitable for use in drug discovery applications as it is possible to grow them reproducibly under laboratory conditions.
Mike Kerins, Cytomyx' Chief Executive, said: "We are very pleased to have licensed the NeuCell lines from CellFactors. We are building on our position as a leading developer of cell-based technologies for drug discovery applications and welcome the opportunity to work with other companies that have developed relevant technologies."
Under the terms of this exclusive agreement, Cytomyx will receive access to eleven distinct NeuCell lines. Cytomyx will further validate these products and be responsible for commercialisation worldwide. The two companies will share revenues from sales of the products.
Paul Bailey, CellFactors' Chief Executive, said: "We are very pleased to enter into this licensing agreement with Cytomyx to develop NeuCell, our neural cell bank. Cytomyx is a leading developer of innovative products for drug discovery research, and its experience in developing cell-based tools in this area will help establish NeuCell as an important component of its service offering. Furthermore, the deal will enable CellFactors to focus on its core cell-derived tissue-engineering business with the prospect of future revenues from NeuCell."
Notes to editors
About Cytomyx Holdings plc
Cytomyx Holdings plc (www.cytomyx-holdings.com) is a rapidly growing life science company based in Cambridge, UK. Its four operating subsidiaries - Cytomyx Ltd, Clinomics Biosciences Inc, Cambridge Bioscience Ltd and Cytocell Technologies Ltd - develop and market a wide range of products and services to the pharmaceutical, diagnostics and academic research markets. Cytomyx is listed on the London Stock Exchange's Alternative Investment Market in 2001.
About CellFactors plc
CellFactors (www.cellfactors.com) is a biotechnology company developing therapeutic products derived from human cells. The Company's primary technology involves the identification and isolation of human cell components (matrices) that together stimulate and support the growth of new and specific tissue types. Such matrices are composed of mixtures of growth factors, protein structures, lipids and other biomolecules isolated from cultured human cell lines.
CellFactors' tissue-engineering technology has been used to develop the Company's lead product, SkeletexTM, an orthobiologic matrix that induces bone tissue to grow. SkeletexTM has the potential to increase the strength of weak or damaged bones, or to create new bone where required. CellFactors is developing SkeletexTM for use in conjunction with existing orthopaedic devices.
CellFactors was founded in 1997 and is based at Babraham Hall in Cambridge, UK, which together with the laboratories that the Company uses at the University of Sheffield, form the basis of its research and development infrastructure. The Company is built around a core of highly talented and committed individuals with a strong focus on delivering commercially viable products.
This information is provided by RNS The company news service from the London Stock Exchange END