PharmaStem Therapeutics Announces Patent License Agreement with Securacell, Inc.

THURSDAY, FEBRUARY 05, 2004 10:51 AM

- BusinessWire

WAYNE, Pa., Feb 5, 2004 (BUSINESS WIRE) -- PharmaStem Therapeutics, Inc. and Securacell, Inc. today announced that they have entered into an agreement under which Securacell, Inc. has obtained a license to PharmaStem's patent portfolio. PharmaStem is the successor to Biocyte Corporation, the pioneer in the development of umbilical cord and placental blood preservation and its therapeutic use. In recognition of its leadership, PharmaStem has received five U.S. patents to date: No. 5,004,681, 5,192,553, 6,461,645, 6,569,427 and 6,605,275.

Francis Quicci, President and CEO of Securacell, stated: "Securacell is pleased to announce this License Agreement with PharmaStem. As a company owned and operated by medical professionals, we value the technology and security that the license to PharmaStem's patent portfolio provides. More importantly our clients and their families, and all the families considering umbilical cord blood banking can be assured Securacell continues to build a company with an ethical and firm foundation. This License ensures our continued leadership in the cord blood banking industry."

Nicholas Didier, President and CEO of PharmaStem, stated: "The Cord Blood Banking industry is now divided into two: Banks who recognize PharmaStem's pioneering invention and are licensed and others who still seem to believe that they can ignore the Patents. But ever since the Jury found that the defendants do indeed willfully infringe on PharmaStem's technology, an increasing number of cord blood banks have recognized that taking a license under the patents was the right thing to do and move on with their business."

On October 29, a Delaware jury found unanimously that ViaCell, Inc., Cryo-Cell International (CCEL) , CorCell, Inc. and CBR Systems, Inc., willfully infringed PharmaStem's pioneering patents covering the technology for collecting, cryopreserving and storing stem cells derived from umbilical cord and placental blood for future therapeutic use. These stem cells found in umbilical cord and placental blood are replacing bone marrow as a transplant source for treating cancer and other diseases.

For further information about PharmaStem, contact Nicholas Didier, CEO, at 914-833-9227 (phone) or ndidier@pharmastem.com

For further information about Securacell, Inc., contact Francis Quicci, President and CEO, at 330-649-9444 (phone) or fquicci@securacell.com

SOURCE: PharmaStem Therapeutics, Inc.