ProCognia (Israel) Ltd. (TASE:PRCG) has signed an agreement with the Weizmann Institute of Science to develop technology for identifying the structure of sugar molecules in stem cells. Prof. Dov Zipori of the Weizmann Institute will head its research team.
ProCognia and the Weizmann Institute have collaborated in the past and have registered patents, which have not been commercialized, due to the lack of cash.
ProCognia president and CEO Alon Natanson told "Globes", "There are still a lot of challenges in stem cells. For example, it is suspected that there are types of cells that are liable to cause cancer. In addition, not every stem cell differentiates into the tissue cells that we're interested in. They also don’t always move to the organ where you want them to operate. Our technology can find the cells that have less risk developing into cancer cells, greater chance of differentiating as planned, and greater potential to move to the suitable organ and stay there."
Natanson said that ProCognia will offer these characteristics, if and when developed, to pharmaceutical companies. They will also enable the company and the Weizmann Institute to develop their own therapies.
ProCognia believes that the project with the Weizmann Institute will take eight months and could become commercial within two years.
"Globes": Most stem cell therapy companies do not highlight the problems you mentioned in their presentations.
Natanson: "Without mentioning any specific company, Prof. Zipori sees the problems in the operations of commercial companies."
ProCognia's share price rose 1.7% to NIS 0.30, giving a market cap of NIS 39 million.
Published by Globes [online], Israel business news - www.globes-online.com - on May 15, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011