FROM:
PR Newswire
May 24, 2001, Thursday
SECTION: FINANCIAL NEWS
HEADLINE: BresaGen Announces Research Agreement With Stanford University
For Cell Delivery System
DATELINE: THEBARTON, Australia, May 24
**my note: Source of this information is BresaGen Limited
" BresaGen Limited (OTC: BSGNY; ASX: BGN), an Australian biotechnology
company, today announced a sponsored research agreement with Stanford
University that will focus on the development of a proprietary cell
delivery system.
Under the terms of the agreement, Drs. Michael Moseley and Dan
Spielman,
Stanford faculty members in radiology, will carry out BresaGen-sponsored
research to develop an image-guided cell delivery device with the
capacity for
monitoring cell metabolism following transplant of cells into the brain
of
patients with Parkinson's disease.
In making the announcement, BresaGen's President and CEO, Dr. John
Smeaton, stated, "I believe BresaGen is the only biotech company which is
currently developing a comprehensive cell therapy product line that
includes cells derived from stem cells, catheter devices to accurately
deliver the cells into target
locations in the brain and imaging technologies to evaluate pre- and
post-operatively the condition of the local tissue environment."
BresaGen's Chief Scientific Officer Dr. Allan Robins, added,
"Improvements
in cell delivery techniques, such as those planned under the research
program
with Stanford, may significantly enhance the therapeutic efficacy of cell
therapy for Parkinson's disease. We expect that the technology developed
through this research will allow the metabolic status of stem
cell-derived
implants to be monitored after the cells are transplanted."
Dr. Smeaton concluded, "The research agreement with Stanford extends
the
BresaGen cell delivery development program. With BresaGen's recent
acquisition
of US-based CytoGenesis Inc., we now have two product development
programs run in the US, and an emerging profile within the American
investment community.
"The timing of our recent cell therapy acquisition and entry into the
US
capital markets is appropriate. There is a growing interest in cell
therapy
technologies on the part of US investors. These investors recognize the
potential of cell therapy to become a major medical technology within
this
decade. BresaGen is well placed with its proprietary cell therapy
program to be
a leader in this field."
About BresaGen Limited
BresaGen (OTC: BSGNY; ASX: BGN) is an innovative biopharmaceutical
company committed to the discovery and commercial development of products
derived from gene technologies. The Company's mission has been to
develop and deliver innovative technology platforms of biopharmaceuticals
including biotherapeutics for myeloid leukemia, breast cancer, allergic
disease, human growth hormones and cell-based therapies.
In November 2000, BresaGen acquired US based CytoGenesis Inc, a
company
specialized in developing a cell-based therapy for Parkinson's disease.
BresaGen
now has both a US operation based out of Athens, Georgia and their South
Australian team working synergistically to accelerate development of an
effective treatment for Parkinson's disease and other cell-based
treatments.
BresaGen recently demonstrated an ability to control the differentiation
of
embryonic stem cells to essentially pure cultures of dopamine producing
cells.
For additional information, please visit our web site at
http://www.bresagen.com.au.
This news release contains forward-looking statements, which reflect
the
Company's current expectation regarding future events. Forward-looking
statements involve risks and uncertainties. Actual events could differ
materially from those projected herein and depend on a number of factors
including the success of the company's research strategy, the
applicability of
the discoveries made therein, the successful and timely completion of
clinical
studies and the uncertainties related to the regulatory process.
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SOURCE BrensaGen Limited
CONTACT: Dr. John Smeaton, CEO of BresaGen Limited, 706-613-9878,
[log in to unmask]; or Media - Ivette Almeida, 212-983-1702 ext.
210,
[log in to unmask], or Investor - Conrad F. Mir, 212-983-1702
ext.
209, [log in to unmask], both of The Anne McBride Co., for
BresaGen
Limited"
URL: http://www.prnewswire.com
LOAD-DATE: May 25, 2001
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