Press Releases
Geron Grants License for Nuclear Transfer Technology to ProLinia, Inc.
FOR IMMEDIATE RELEASE
June 6, 2001
Geron Grants License for Nuclear Transfer Technology to ProLinia, Inc. for Development of Cattle and Hogs for Agricultural Applications
Geron Corporation (NASDAQ: GERN) announced today that it has entered into an agreement to license its nuclear transfer technology to ProLinia, Inc. ProLinia has been granted a non-exclusive license to Geron’s nuclear transfer technology for the production of cattle and hog embryos, as well as live cattle and hogs, for agricultural purposes. Under the license, ProLinia will receive worldwide license rights for applications of nuclear transfer technology in hogs, and worldwide license rights, excluding Australia and New Zealand, for applications in cattle.
ProLinia plans to use nuclear transfer technology to copy the valuable genetics of elite cattle and hogs and upgrade production of animal multiplier herds. ProLinia previously has announced a strategic collaboration with Smithfield Foods, Inc., the world’s largest hog producer, and anticipates entering further alliances with leaders in the hog and cattle production and processing fields.
In consideration for the license, Geron will receive equity in ProLinia and royalties on future product sales.
ProLinia, based in Athens, Ga., was established in 1998. Clifton Baile, ProLinia’s Chief Executive Officer and Chairman of the Board, is an Eminent Scholar in Agricultural Biotechnology and a Distinguished Professor at the University of Georgia. ProLinia’s scientific effort is headed by Dr. Steven Stice, ProLinia’s Chief Scientific Officer, who also serves as a Professor and Georgia Research Alliance Eminent Scholar in Animal Reproductive Biology. Dr. Stice is also a co-inventor of nuclear transfer technology developed at the University of Massachusetts.
Geron is a biopharmaceutical company focused on developing and commercializing therapeutic and diagnostic products for applications in oncology and regenerative medicine, and research tools for drug discovery. Geron’s product development programs are based upon three patented core technologies: telomerase, human embryonic stem cells and nuclear transfer.
This news release may contain forward-looking statements made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements in this press release regarding product development and future applications of Geron’s technology constitute forward-looking statements that involve risks and uncertainties, including, without limitation, risks inherent in the development and commercialization of potential products, dependence on collaborative partners and the maintenance of our intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed from time to time in Geron’s periodic reports, including the quarterly report on Form 10-Q for the quarter ended March 31, 2001.
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