Stem Cell Sciences to commercialise neural technology

BioTech Capital (ASX:BTC) investee Stem Cell Sciences has been awarded an exclusive license to a new patented technology to derive and grow neural stem cells.

The technique was developed by researchers at the Universities of Edinburgh and Milan, who collaborate with SCS, and published this week in the journal Public Library of Science Biology. In a statement, SCS CEO Peter Mountford said that being able to grow pure brain cells was an exciting prospect for the company. "SCS sees new business opportunities in both cell-based drug discovery and cell-based therapies for neurological disorders."

The firm's chief scientist, Tim Allsopp, said the company has had a number of approaches in both the UK and Australia from pharmaceutical companies interested in using these cells to test and develop new drugs. He said SCS was looking forward to working with them to further develop and license the technology.

The discovery was been partly funded by a European Union program which links industry and academia.