Progenitor Labs named best emerging biotech

Posted: London, UK, 13 September 2011

Progenitor Labs is pleased to announce it has been voted Best Emerging Biotech at the Oxford Biotechnology Network’s Annual Awards Dinner held at Pembroke College, Oxford. Progenitor was selected from the biotechnology companies clustered within the “Golden Triangle” comprising London, Oxford and Cambridge.

Progenitor is focused on discovery of natural and synthetic molecules that regenerate tissues of the human body. The new venture brings together proven high throughput technologies with a deep understanding of stem cell biology. The key proprietary technology, ProScreen™, is a drug screen for molecules that can regenerate cells by acting on adult stem cells resident in the body. In addition the Company has obtained an exclusive license to CombiCult®, Plasticell’s award- winning combinatorial technology, for use in regenerative drug discovery.

Progenitor’s focus on drug development distinguishes the Company from other regenerative medicine companies that are focused on cell therapies. Development of regenerative drugs circumvents the ethical debate to which conventional stem cell therapies are still subject. Moreover, drugs have substantial advantages over cell therapies: they are easier to develop, manufacture, distribute, store, administer and market.

Accepting the award on behalf of Progenitor, Mr. Dennis Saw, CFO, remarked: “From its inception, Progenitor has been extremely well received by one and all in the biotechnology community. I am delighted our exciting business model and technologies have been formally recognized at this prestigious OBN event.”