Plasticell demerges to create regenerative drug discovery unit
London-based Plasticell, the biotechnology company developing stem cell technologies, has undergone a strategic re-structuring to enable the company to focus on its award winning CombiCult technology for stem cell differentiation. Consequently, Plasticell has demerged its regenerative drug discovery unit into a newly established company, Progenitor Labs.
Progenitor Labs has been assigned all rights to Plasticell’s proprietary ProScreen (formerly CombiScreen) technology for the discovery of small molecule drugs capable of regenerating tissues of the human body, and has acquired an exclusive license to CombiCult technology solely for the purpose of creating high quality, physiologically relevant progenitor cells for use in ProScreen.
Yen Choo, the founder of Plasticell and Progenitor Labs, commented: “Regenerative drugs are an attractive alternative to the use of cells in regenerative medicine. Drugs are relatively easier to develop, manufacture, package, distribute and administer, and have clearer regulatory and reimbursement processes. Crucially, this business model is aligned with that of the pharmaceutical companies that specialize in discovering and marketing small molecule therapeutics.”