Plasticell spins out regenerative medicine company

With plans to focus on its core technology of high throughput stem cell technologies, London-based Plasticell has spun out its  regenerative drug discovery. The new entity, called Progenitor Labs, will use Plasticell's ProScreen technology to discover small molecules that can regenerate tissues. Progenitor will also create progenitor cells to use in ProScreen. Plasticell founder Dr. Yen Choo will lead development of Progenitor Labs, while CFO Dennis Saw will move on to become CEO of the new company.

"Regenerative drugs are an attractive alternative to the use of cells in regenerative medicine," explained Choo in a statement. "Drugs are relatively easier to develop, manufacture, package, distribute and administer, and have clearer regulatory and reimbursement processes. Crucially, this business model is aligned with that of the pharmaceutical companies that specialise in discovering and marketing small molecule therapeutics."

- here's the release from Plasticell