StemCells Inc. grants license to Stem Cell Therapeutics

By E. Janene Geiss

Philadelphia, Aug. 29 - StemCells, Inc. said Tuesday that it has entered into a license agreement with Stem Cell Therapeutics Corp. for use of its intellectual property portfolio for drug development.

Under the agreement, Stem Cell Therapeutics will pay StemCells upfront and license maintenance fees as well as milestone and royalty payments, according to a company news release.

The agreement provides StemCells with access to Stem Cell Therapeutics' intellectual property portfolio for use in drug discovery, screening and testing, and therapeutic use of cellular compositions.

StemCells said it will pay Stem Cell Therapeutics a commercially reasonable royalty to be negotiated in good faith on products developed under the license.

Stem Cell Therapeutics is a Calgary, Alta., biotechnology company focused on central nervous system diseases.

StemCells is a Palo Alto, Calif., clinical-stage biotechnology company.

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