ROCKVILLE, Md., Nov. 20 Stem cell company,Neuralstem, Inc. (Amex: CUR), today announced that it has exclusively licensedthe "Spinal Multisegmental Cell and Drug Delivery System," invented by Dr.Martin Marsala at the University of California, San Diego (UCSD). Theexclusive, worldwide license to Neuralstem covers all fields of use andincludes the right to grant sublicenses. Under the terms of the agreement,UCSD will be eligible for milestone payments and royalties and Neuralstem willassume the cost of development, manufacture and approval of the product.
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"Neuralstem is actively pursuing human clinical trials for its humanspinal cord stem cells to treat Ischemic Paraplegia, ALS and Traumatic SpinalCord Injury," said Neuralstem CEO Richard Garr. "All three indicationsrequire delivering our cells directly into the spinal cord. We believe thatDr. Marsala's injection device will allow for a minimally invasive injectionof the cells into the spinal cord, thus significantly reducing the risk of thesurgery to any patients receiving cell or drug therapy administered directlyinto the spinal cord."
"The device provides a unique method for delivering cells horizontallyalong the length of the spinal cord," said Dr. Marsala, "which will reduce thenumber of entry sites needed for therapeutic intervention. We believe thatthis will greatly enhance the likelihood of success for treating manyindications." Dr. Marsala went on to say, "Neuralstem has not only shown astrong commitment to moving their spinal cord stem cells into the clinic, butto creating a therapy that can be broadly and safely delivered. We are excitedto have them as our exclusive licensee for this important technology."
Neuralstem's patent-protected technology enables, for the first time, theability to produce neural stem cells of the human brain and spinal cord incommercial quantities, and the ability to control the differentiation of thesecells into mature, physiologically relevant human neurons and glia. TheCompany expects that its first Investigational New Drug (IND) application willbe for the treatment of Ischemic Paraplegia, a form of paraplegia thatsometimes results from the surgery to repair aortic aneurysms and for whichthere is no effective treatment. The Company anticipates it will submit itsinitial IND application to the FDA during calendar year 2007.
Major Central Nervous System diseases targeted by the Company withresearch programs currently underway include: Ischemic Paraplegia, TraumaticSpinal Cord Injury, ALS, and Parkinson's disease. The company's cells recentlyextended the life of rats with ALS (Lou Gehrig's disease) in a paper publishedin the journal TRANSPLANTATION, and were deemed viable for continued work inneurodegenerative spinal conditions. Neuralstem cells also reversed paralysisin rats with Ischemic Spastic Paraplegia, a form of paralysis that can resultfrom the surgery to repair aortic aneurysms, as reported in NEUROSCIENCE(http://www.neuroscienceibro.com/). The company has also developedimmortalized human neural stem cells for in-vitro use in drug development forthe academic and pharmaceutical markets. For further information, please visithttp://www.neuralstem.com.
Cautionary Statement Regarding Forward Looking Information
This press release may contain forward-looking information aboutNeuralstem, Inc., which are intended to be covered by the safe harbor forforward-looking statements provided by the Private Securities LitigationReform Act of 1995. Forward- looking statements are statements that are nothistorical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should,""project," "plan," "seek," "intend," or "anticipate" or the negative thereofor comparable termi