Hemosol Inc. announced Tuesday that it has acquiredproprietary stem cell technology and related assets fromCellCare Inc. for US$200,000. An additional $500,000 will bepayable to the Etobicoke, Ontario, company based on patentapproval, and another $500,000 will be payable upon filing of anew drug submission.
The technology was developed by CellCare of Lebanon, N.H., toprogagate stem cells. It also broadens the applications of bonemarrow transplantation, according to Hemosol.
Hemosol's president and chief executive officer, Alun Davies,said the acquisition represents a low-cost entry into the field ofstem cell research that will allow the company to diversify andeventually develop a new source of red blood cells for its mainbusiness, human blood substitute products.
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