TAMPA, Fla., Sept. 7 /PRNewswire/ -- Saneron CCEL Therapeutics, Inc. and the University of Minnesota announced today that the parties had signed an exclusive license in which Saneron CCEL acquires worldwide patent rights to the University of Minnesota's cord blood cell line developed by Dr. Walter Low. Saneron CCEL will utilize this technology to expand their research on the development of new cellular therapeutics for the treatment of neurological and cardiac disorders.
According to the agreement, Saneron CCEL will provide research funding and make milestone payments in return for worldwide exclusive development, marketing, and manufacturing rights to the cell line developed. Other terms of the agreement were not disclosed.
"Saneron CCEL's cutting-edge and innovative work with umbilical cord blood provides a strong platform for development of cellular therapies and the addition of this cell line enhances our technology portfolio," said Nicole Kuzmin-Nichols, VP, Business Development & Operations of Saneron CCEL. "The cell line developed in Dr. Low's laboratory is a milestone achievement in umbilical cord blood research."
About Saneron CCEL Therapeutics, Inc.
Saneron CCEL Therapeutics, Inc. is a biotechnology R&D company, focused on neurological and cardiac cell therapy for the early intervention and treatment of several devastating or deadly diseases, which lack adequate treatment options. Saneron CCEL, a University of South Florida spin-out company, is located at the Tampa Bay Technology Incubator. An affiliate of Cryo-Cell International, Inc., Saneron CCEL is committed to providing readily available, non-controversial stem cells for cellular therapies and has patented and patent-pending technology relating to our platform technology of umbilical cord blood and Sertoli cells.
About University of Minnesota.
The Academic Health Center is home to the University of Minnesota's six health professional schools and colleges as well as several health-related centers and institutes. Founded in 1851, the University is one of the oldest and largest land grant institutions in the country. The AHC prepares the new health professionals who improve the health of communities, discover and deliver new treatments and cures, and strengthen the health economy.
For further information, please contact:
Saneron CCEL Therapeutics Inc.,
Nicole Kuzmin-Nichols, MBA
3802 Spectrum Blvd., Suite 145
Tampa, FL 33612
Phone: 813-977-7664 x2
University of Minnesota
Academic Health Center
Jonell Rusinko (612-624-5680)
Bruce Erickson (612-625-2354)
Saneron CCEL Therapeutics, Inc.
CONTACT: Nicole Kuzmin-Nichols, Saneron CCEL, +1-813-977-7664, ext. 2, email@example.com; or Jonell Rusinko, +1-612-624-5680, or BruceErickson, +1-612-625-2354, both of University of Minnesota