STEM CELL SIGNS ‘SIGNIFICANT’ DEAL WITH PFIZER
November 23rd 2008 06:22
Thursday November 20, 2008
Daily news on ASX-listed biotechnology companies
* ASX, BIOTECHS DOWN: NEUREN UP 32%, TYRIAN DOWN 49%
* STEM CELL SIGNS ‘SIGNIFICANT’ DEAL WITH PFIZER
* BENITEC LOSES SENIOR STAFF TO REDUCE CASH BURN
* FRED BART CHAIRS GENETIC TECHNOLOGIES BOARD
* ACRUX HITS HALF-WAY MARK IN PHASE III TESTOSTERONE TRIAL
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* IM MEDICAL AGM DUMPS DIRECTOR DR LEON MASSAGE
* CURIOUS DIVISION AT NANOSONICS’ AGM
* DISCRETION BETTER PART OF NORWOOD ABBEY’S VALOR
* PORTLAND ORTHOPAEDICS REQUESTS ASSET SALE TRADING HALT
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STEM CELL SCIENCES
Stem Cell Sciences has signed a master service agreement of up to five years with Pfizer Limited the company’s operating unit in the United Kingdom.
Stem Cell said it would provide research services, cell lines, media and reagents to support Pfizer’s research and development efforts.
Stem Cell’s Australian operations manager Dr Paul Bello told Biotech Daily that he could not disclose the value of the agreement but said it was “significant”.
The company’s chief executive officer Dr Alastair Riddell said the opening of Pfizer’s new regenerative medicine research facility in Cambridge, UK, was “very important for stem cell research and reinforces the UK’s position as an international centre of excellence”.
Stem Cell said the Pfizer regenerative medicine unit would be led by chief scientific officer Dr Ruth McKernan, who said that “while there still a lot to understand about how stem cells can be used therapeutically, we believe it is one of the most promising areas of scientific research”.
Stem Cell Sciences fell six cents or 31.58 percent to 13 cents.
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