Advanced Cell Technology (OTC:ACTC), a biotechnology company, announced Tuesday that it has entered into a collaborative agreement with Scotland-based Roslin Cells to establish a bank of human embryonic stem cell lines, using its patented single cell blastomere technique.
Stem cell lines from the resulting bank will be available for both research and commercial purposes, the company said in a statement.
"This is a significant milestone in fulfilling our commitment to provide stem cells for clinical trials designed to help patients who are suffering from medical conditions for which there are no other options," said Advanced Cells Chairman and CEO, Gary Rabin.
“Our agreement with Roslin Cells is intended to address a number of practical and ethical issues facing the field, and should make it easier for researchers to explore the enormous potential of this exciting science for the future benefit of patients," he added.
Advanced Cell's single-cell blastomere technology is a method for generating human embryonic stem cells without damage to the embryo. The biopsy procedure does not damage the embryo, nor does it interfere with the embryo’s developmental potential, the company said.
Under the deal's terms, Roslin will be responsible for maintaining the banked human embryonic stem cell lines and will endorse access to the lines to both academic and commercial entities, as well as establish a license, enabling third parties to have a path to commercialization.
Advanced Cells said it will continue to control any licenses to commercialization of products. Both Advanced Cells and Roslin will share proceeds from these licenses, which include milestone and royalty payments.
Roslin Cells CEO, Aidan Courtney, said, "Our aim is to provide researchers with access to human embryos.”
“We anticipate that these single blastomere-derived embryonic stem cells will have broad plasticity and be ideally suited for use in the development and commercialization of regenerative medicine therapies," he added.
Advanced Cell is a biotechnology company that specializes in the development of cellular therapies for the treatment of diseases.
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