NeoStem, a New York-based company specializing in the development of adult stem-cell therapeutics, has acquired StemCell Technologies, a wholly owned subsidiary of Tampa, Fla.-based Utek Corp., a company focused on acquiring and transferring developing medical technologies to corporate clients.
StemCell Technologies owns the exclusive, worldwide license to a technology to work with very small embryonic-like cells, or VSELs, a stem-cell technology developed by University of Louisville researchers. Similar to embryonic stem cells, VSELs have shown an ability to be directed and developed into different types of tissue, including cardiac, neural, muscle and various other types of cells.
The deal, a stock-for-stock transaction, calls for NeoStem to issue 400,000 shares of common stock to Utek in exchange for 100% of its outstanding shares of StemCell Technologies. In addition, the university and at least one of its researchersMariusz Ratajczak, who co-invented the VSEL technologywould receive royalties from future revenue generated on licensing of the VSEL patent. -- by Shawn Rhea
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