Dendreon and Charter Medical Announce Supply and Marketing Agreement for Stem Cell Enrichment Device.
SEATTLE--(BW HealthWire)--Aug. 10, 2000
Dendreon Corporation (Nasdaq:DNDN) and Lydall, Inc. (NYSE:LDL) today announced the signing of a Supply and Marketing Agreement between Dendreon and Charter Medical, Ltd., a Lydall subsidiary, to distribute Dendreon's DACS(R)SC medical device.
Under the agreement, Charter Medical has been granted exclusive worldwide distribution rights for the DACS(R)SC stem cell enrichment device -- a system designed and manufactured by Dendreon.
The DACS(R)SC is used to isolate hematopoietic stem cells from blood for transplantation in cancer patients following high dose chemotherapy or radiation therapy. Stem cells are used to restore the blood and immune system. Dendreon received Premarket Approval (PMA) for the device from the U.S. Food and Drug Administration last year.
"We are pleased to work with Charter Medical on the commercialization of the DACS(R)SC because of their expertise and established distribution channels in the blood processing field," said David Urdal, Ph.D., chief scientific officer of Dendreon.
Dendreon's platform cell separation technology is designed to isolate cells rapidly, safely and cost effectively. It works by layering a mixture of cells over a specially formulated buoyant density solution in a patented two chamber separation container. Following centrifugation, cells separate based on their relative buoyant densities -- cells with low buoyant densities are found in the upper chamber, while cells with higher density are trapped in the bottom chamber of the container.
"Charter Medical, Ltd. is excited about launching the DACS(R)SC with Dendreon," said Lisa Krallis-Nixon, general manager of Charter Medical. "We manufacture a variety of products designed to assist in stem cell collection and storage which complement the DACS(R)SC device. Our agreement with Dendreon enhances our strategic position as a vital fluids management company in the healthcare industry."
Financial terms of the agreement were not disclosed.
Charter Medical, Ltd. is a manufacturer of specialty products designed to manage vital fluids in the blood and biopharmaceutical industries. Lydall, Inc. is a manufacturer of engineered products for demanding specialty applications, primarily in thermal/acoustical materials and filtration/separation markets.
Dendreon Corporation (www.dendreon.com), a biotechnology company headquartered in Seattle, Wash., is dedicated to the discovery and development of novel products for the treatment of cancer through its innovative manipulation of the immune system. Dendreon is focused on the development of therapeutic cancer vaccines through the use of antigen discovery, antigen engineering and dendritic cell technologies. Dendreon's vaccine for the treatment of prostate cancer (Provenge(TM)) is in Phase III clinical trials and its vaccine for the treatment of multiple myeloma (Mylovenge(TM)) is in Phase II clinical trials.
Except for historical information contained herein, this news release contains forward-looking statements that are subject to risks and uncertainties that may cause actual results to differ materially from the results discussed in the forward-looking statements. Factors that may cause such a difference include the risks of competition, changing market conditions, changes in laws and regulations affecting the medical device industry, customer acceptance of the product, dependence on the efforts of third parties, and dependence on intellectual property. Further information on the factors and risks that could affect Dendreon's or Lydall's business, financial condition and results of operations, are contained in a) Dendreon's SEC Reports, including Dendreon's Form S-1, which is available at www.sec.gov; and b) in Lydall's 10-K, 10-Q and 8-K, available on Lydall's web site (www.lydall.com). Information regarding Lydall may also be obtained from Lydall's toll-free investor information service at 877-LDL-NYSE (535-6973).
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|Date:||Aug 10, 2000|
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