GERMANTOWN, Md., July 23, 2015 /PRNewswire/ -- Neuralstem,
Inc. (Nasdaq: CUR), a biopharmaceutical company using neural stem
cell technology to develop small molecule and cell therapy
treatments for central nervous system diseases, announced that the
U.S. District Court for the District of Maryland dismissed StemCells, Inc.'s patent
infringement case with prejudice in StemCells, Inc. v.
Neuralstem, Inc. in favor of Neuralstem, on July 22, 2015.
The District Court held a bench trial on the issue of standing
in December of 2014. In its 29-page Memorandum Opinion, the
U.S. District Court for the District of Maryland ruled that a third-party
scientist is a co-owner and co-inventor of the
patents-in-suit. As a result, StemCells, Inc. lacked standing
on its own to bring its patent infringement claims against
Neuralstem, Inc. and the case was dismissed with
prejudice.
About Neuralstem
Neuralstem's patented technology enables the commercial-scale
production of multiple types of central nervous system stem cells,
which are under development for the potential treatment of central
nervous system diseases and conditions.
Neuralstem's ability to generate human neural stem cell lines
for chemical screening has led to the discovery and patenting of
compounds that Neuralstem believes may stimulate the brain's
capacity to generate neurons, potentially reversing pathologies
associated with certain central nervous system (CNS) conditions.
The company has completed Phase Ia and Ib trials evaluating
NSI-189, its first neurogenic small molecule product candidate, for
the treatment of major depressive disorder (MDD), and is expecting
to initiate a Phase II study for MDD and a Phase Ib study for
cognitive deficit in schizophrenia in 2015.
Neuralstem's first stem cell product candidate, NSI-566, a
spinal cord-derived neural stem cell line, is under development for
treatment of amyotrophic lateral sclerosis (ALS). Neuralstem has
completed two clinical studies, in a total of thirty patients, that
met primary safety endpoints. In addition to ALS, NSI-566 is also
in a Phase I trial in chronic spinal cord injury at UC San Diego
School of Medicine, as well as in clinical development to treat
ischemic stroke.
Neuralstem's next generation stem cell product, NSI-532.IGF,
consists of human cortex-derived neural stem cells that have been
engineered to secrete human insulin-like growth factor 1 (IGF-1).
In animal data presented at the Congress of Neurological Surgeons
2014 Annual Meeting, the cells rescued spatial learning and memory
deficits in an animal model of Alzheimer's disease.
For more information, please visit www.neuralstem.com or connect
with us on Twitter, Facebook and LinkedIn
Cautionary Statement Regarding Forward Looking Information:
This news release contains "forward-looking statements" made
pursuant to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking
statements relate to future, not past, events and may often be
identified by words such as "expect," "anticipate," "intend,"
"plan," "believe," "seek" or "will." Forward-looking statements by
their nature address matters that are, to different degrees,
uncertain. Specific risks and uncertainties that could cause our
actual results to differ materially from those expressed in our
forward-looking statements include risks inherent in the
development and commercialization of potential products,
uncertainty of clinical trial results or regulatory approvals or
clearances, need for future capital, dependence upon collaborators
and 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 Neuralstem's
periodic reports, including the Annual Report on Form 10-K for the
year ended December 31, 2014, Form
10-Q for the period ended March 31,
2015, and in other reports filed with the SEC.
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SOURCE Neuralstem, Inc.