Embryome Sciences obtained an exclusive, worldwide license to Advanced Cell Technology’s (ACT) ACTCellerate™ embryonic stem cell technology and a bank of over 140 progenitor cell lines derived using this platform. ACT retains the option to reacquire rights to use the ACTCellerate technology for the development of certain types of stem cells for human therapeutic use in certain fields.
Embryome Sciences will pay ACT a license fee and an 8% royalty on sales of related products, services, and processes that utilize the licensed technology. Once a total of $1 million in royalties has been paid, no further royalties will be due.
Embryome Sciences plans to sell the progenitor cells and specific culture media that stimulates the propagation of these cells to the research community through the company’s newly formed website, Embryome.com. Embryome Sciences may use the technology and cell lines to develop research products as well as therapeutic and diagnostic products for humans and animals.
ACTCellerate reportedly allows the rapid isolation of highly purified embryonic progenitor cells. The agreement includes pending patent applications and know-how.
“There is a large and growing market in supplying basic research tools to scientists funded by the $3 billion California stem cell initiative as well as scientists entering the field worldwide, and our long-term plan is to be the first profitable company in the stem cell sector,” says Michael D. West, Ph.D., CEO of Embryome Sciences. “Our license of the ACTCellerate technology adds to our portfolio of embryonic stem cell patent licenses that includes the core technology from the Wisconsin Alumni Research Foundation and other technology sublicensed from Lifeline Cell Technology, which we plan to use to develop and market additional stem cell research products.”