Invitrogen, Geron Ink Stem Cell Deal

Biotech

TSC and IRIS Staff

06/29/06 - 04:21 PM EDT

Invitrogen (IVGN Quote) announced Thursday that it licensed Geron's(GERN Quote) intellectual property related to the growth of human embryonic stem cells (hESC).

Geron, a Menlo Park, Calif.-based biopharmaceutical company, develops therapeutic products for the treatment of cancer and degenerative diseases, which it wants to commercialize.

Under the agreement, Invitrogen, a life science products and services provider, will have a non-exclusive license under Geron's patents to develop, manufacture and sell media, additives and reagents for use by hESC researchers subject to certain commercial use restrictions. Invitrogen will also be able to provide research-use-only sublicenses for the products to its customers, the Carlsbad, Calif.-based company said.

While the financial terms of the deal were not disclosed, it was mentioned that Geron will receive license payments and royalties on products developed under the agreement.

Invitrogen's stock closed up $1.18, or 1.8%, to $66.01 Thursday. Geron shares closed up 44 cents, or 7.1%, at $6.67.

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