StemCyte and Rutgers Sign Licensing Agreement
StemCyte and Rutgers University have entered into a research and licensing agreement for a spinal cord injury therapy being developed by Wise Young, which uses StemCyte’s proprietary human umbilical cord blood or UCB stem cells in conjunction with lithium.
Under the terms of the agreement, StemCyte will provide financial sponsorship for Mr. Young’s work at Rutgers’s W M Keck Center for Collaborative Neuroscience and receive exclusive commercialization rights to the therapy. If the product or other assets resulting from the collaboration are successfully commercialized, Rutgers will receive royalties.
Kenneth Giacin, chairman and CEO of StemCyte, said: “We have provided UCB products to support Mr. Young’s research for several years. By combining our expertise in UCB stem cells with Mr. Young’s experience in spinal cord injury research, we believe that we can develop a treatment that will hold great promise for patients.”