NEWARK, Calif., Oct. 29, 2013 (GLOBE NEWSWIRE) -- StemCells, Inc. (Nasdaq:STEM) today announced the acquisition of a portfolio of issued US and Canadian patents to which it had previously held an exclusive worldwide license. The portfolio broadly claims the manufacture and proliferation of purified populations of human neural stem cells and their use as therapeutics and as tools for drug discovery. The acquisition relieves the Company of all milestone and royalty obligations under the license agreements for products claimed by the patents, such as products derived from the Company's proprietary HuCNS-SC® cells (purified human neural stem cells). The patents arose from the groundbreaking research of Samuel Weiss, Ph.D., and Brent Reynolds, Ph.D., while at the University of Calgary. As consideration for the portfolio, the Company will issue 139,548 shares of common stock to Neurospheres Holdings Ltd., an intellectual property holding company affiliated with the University of Calgary.
StemCells, Inc. Acquires Seminal Neural Stem Cell Patent Portfolio
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