Geron Announces Telomerase Licensing Agreement with PanCel Corporation.Business Editors/Health & Medical Writers MENLO PARK, Calif.--(BUSINESS WIRE)--March 6, 2003 Geron Corporation (Nasdaq:GERN v. t. 1. To grin or yawn. ) today announced that it has granted a non-exclusive license to PanCel Corporation to utilize Geron's human telomerase reverse transcriptase Telomerase reverse transcriptase is an enzyme associated with Cri du chat. Telomerase is a ribonucleoprotein polymerase that maintains telomere ends by addition of the telomere repeat TTAGGG. (hTERT) technology for the replicative immortalization immortalization /im·mor·tal·iza·tion/ (imor?tah-li-za´shun) the gaining of immunity to normal limitations on growth or life span, sometimes achieved by animal cells in vitro or by tumor cells. of human pancreatic islet cells. The gene encoding hTERT, which is the catalytic protein component of the telomerase telomerase /telo·mer·ase/ (te-lo´mer-as) a DNA polymerase involved in the formation of telomeres and the maintenance of telomere sequences during replication. te·lom·er·ase n. enzyme, was cloned in 1997 by Geron scientists, working in collaboration with researchers at the University of Colorado University of Colorado may refer to:
Under the terms of the agreement, PanCel will use hTERT to develop immortalized human pancreatic islet cells to be used in the treatment of Type 1 diabetes type 1 diabetes n. See diabetes mellitus. . PanCel is developing pancreatic islet cell lines, sourced from primary human pancreatic tissue, that are capable of detecting glucose and secreting insulin. The hTERT technology will be used to immortalize im·mor·tal·ize tr.v. im·mor·tal·ized, im·mor·tal·iz·ing, im·mor·tal·iz·es To make immortal. im·mor these engineered cells for clinical use. In consideration for the license rights, Geron received up-front payments of cash and equity, and will receive a share of proceeds from future product sales. "This transaction is another example of the utility of Geron's hTERT technology in an important therapeutic application. By licensing PanCel, Geron is able to leverage its intellectual property and collaborate with a leader in developing therapies for the treatment of Type 1 diabetes," said David L. Greenwood, Geron's chief financial officer and senior vice president of corporate development. "The execution of this License Agreement with Geron will enable PanCel to more quickly develop a cellular therapy for Type 1 diabetes and contribute to the development of our bioartificial endocrine pancreas endocrine pancreas The part of the pancreas that reacts to signals from the vascular system by secreting hormones, including insulin–B cells, glucagon–A cells, somatostatin–D cells, pancreatic polypeptide–PP cells, gastrin, etc Embryology ," said David McCarty, President/CEO of PanCel. Geron is a biopharmaceutical company focused on developing and commercializing therapeutic and diagnostic products for applications in oncology and regenerative medicine, and research tools for drug discovery. Geron's product development programs are based upon three patented core technologies: telomerase, human embryonic stem cells and nuclear transfer. PanCel is an early stage cellular therapy company that has developed technology to genetically engineer pancreatic cell lines for the treatment of diabetes. PanCel's founding scientists are leaders in engineering human pancreatic cells with the potential to produce insulin. This expertise and knowledge of cell biology, developmental biology Developmental biology A large field of investigation that includes the study of all changes associated with an organism as it progresses through the life cycle. The life cycles of all multicellular organisms exhibit many similarities. , genomics and gene transfer supports PanCel's goal to produce a functional human pancreatic cell line. This news release may contain forward-looking statements made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that such forward-looking statements in this press release regarding future applications of Geron Corporation's technology constitute forward-looking statements involving risks and uncertainties, including, without limitation, risks inherent in the development and commercialization of potential products, need for additional capital, need for regulatory approvals or clearances, and the maintenance of our intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed from time to time in Geron's periodic reports, including the annual report on Form 10-K for the year ended December 31, 2002. Statements in this press release regarding product development and future applications of PanCel's technology constitute forward-looking statements that are subject to certain risks and uncertainties. Actual results may differ materially from the results anticipated in these forward-looking statements. |
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