Sydney, Nov 4, 2005 AEST (ABN Newswire) - The board of Biotech Capital (ASX: BTC) announced that its investee company (Stem Cell Sciences plc ("SCS") has concluded an agreement with the US-Based company Lexicon Genetics ("Lexicon"). Lexicon is a biopharmaceutical company focused on the discovery and development of treatments for a range of human diseases primarily using its proprietary gene knock out technology.
SCS has granted Lexicon an exclusive license over its proprietary IRES vector technology. In return, SCS will receive an up-front payment as well as a share of future revenues generated by sub-licenses to the IRES technology. In addition, Lexicon has granted SCS certain non-exclusive rights over intellectual property it controls for use in stem cell and progenitor cell lines.
This agreement follows recently announced deals with Deltagen and Chemicon. All of these transactions result in revenues to Stem Cell Sciences as well as providing exposure to future upside royalties and revenue sharing arrangements.
About BTC Health Limited
BTC Health (ASX:BTC) is a listed entity on the ASX and is a Pooled Development Fund, registered under the Pooled Development Funds Act 1992. It is a high-growth company, focused on making world-class innovative medical products available to patients in Australia and New Zealand.
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