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Sydney, Nov 20, 2006 AEST (ABN Newswire) - Leading heathcare company CyGenics Ltd (ASX: CYN) today signed an agreement with the Blood Centre of Zhejiang Province (ZBC) in China for development work generating human T cells outside the body for the treatment of HIV, using CyGenics' proprietary cellular growth technology.
This cellular growth technology is owned by our wholly owned subsidiary, Cytomatrix LLC, one of the most promising companies held in CyGenics technology investment portfolio.
T cells are a vital component of the body's immune system. CyGenics' patented three-dimensional growth scaffold, the Cytomatrix, has been shown in laboratory studies to be able to generate T cells - in effect, to become an artificial thymus.
As one of the premier blood centres in China, ZBC has ready access to all sources of haematopoietic stem cells, such as umbilical cord blood, bone marrow, and peripheral blood. The Centre will use stem cells donated for research to undertake a series of studies.
Once completed ZBC may assess the feasibility of applying the technology for the treatment of HIV, subject to regulatory approval. CyGenics will retain ownership of all intellectual property that may arise from this collaboration. ZBC may opt to license the technology from CyGenics, for use within the China market.
The signing ceremony was witnessed by Mr Raymond Lim, the Singapore Minister for Transport and Second Minister for Foreign Affairs, and the Singapore Consulate-General for China (Shanghai), Mr Chan Heng Wing. Present also were Linyun Ma, Deputy Secretary General, General Office of Zhejiang Provincial Government, and Mr Duer Fu, Deputy Director, Zhejiang Foreign Trade & Economic Cooperation Bureau. Signing the agreement were CyGenics' Group CEO, Steven Fang, and Professor LiXing Yan, Acting Director of the ZBC.
"Our agreement today with Zhejiang Blood Centre is a significant development for CyGenics as it strengthens our presence in China," said Mr Fang. "It is the first of a number of agreements we are planning with ZBC, including cord blood banking operations in this large and important province, the fourth richest province in China."
"We are very pleased Minister Lim and the Singapore delegation could be with us here today. We are excited to be working with CyGenics", said Professor Yan. "CyGenics is not only a company with strong technology in cell therapy, they, like us, are very focussed on quality in cord blood banking. I look forward to what we can do together in this exciting new field of stem cell therapy."
About the Blood Centre of Zhejiang Province
The Blood Centre of Zhejiang Province (ZBC) was set up in 1996. It is responsible for blood collection and supply for the entire province. In 2005, ZBC provided 28.5 tons of blood to 89 hospitals and medical institutions. Dedicated to quality in transfusion medicine, is it regarded as one of the leading transfusion centres in China and a founding member of the national body, Blood Safety Research of the Ministry of Health. ZBC also operates the Umbilical Cord Blood Haematopoietic Stem Cells Bank of Zhejiang Province, with over 4,000 units to date, and is one of the national bone marrow banks. A national recognised research centre, the bank is also home to extensive and advanced facilities for molecular biology, cell biology and cryobiology. For more information, please visit www.zjb.org.cn.
About Cord Blood Stem Cells
Cord blood stem cells are most commonly used to treat several different types of blood cancers, such as acute leukemias, other blood disorders and various inherited disorders. Stem cells from cord blood are described as 'adult' to distinguish them from the stem cells derived from embryos. Research into the use of these cells has shown that adult stem cells can also be used to treat autoimmune diseases such as lupus, multiple sclerosis, Crohn's disease, and rheumatoid arthritis. Early clinical studies also suggest that they can helped avert corneal degeneration and restore vision in cases of blindness, can hep to restore proper cardiac function to heart attack sufferers and can improve movement in spinal cord injury patients. Stem cells from cord blood have a number of advantages over stems cells collected later in life, including a lower risk of rejection.
