PARIS, April 5, 2011 /PRNewswire/ -- Cellectis (Alternext: ALCLS), the genome engineering specialist, has announced today that its subsidiary Ectycell has signed an agreement with the Caisse des Depots (a French financial institution) for a planned capital investment of euro 12M, in two steps, reserved in equal parts to Cellectis and Caisse des Depots.
This agreement should start no later than January 31, 2012, and is subject to the achievement of certain technical conditions.
Following this investment, Cellectis is set to hold about 75% of the capital stock and voting rights of Ectycell, the rest being held by Caisse des Depots.
Created in August 2009, Ectycell is dedicated to the industrial development of induced Pluripotent Stem (iPS(1)) cells. Ectycell is a sublicensee of Cellectis for various intellectual property usage rights, including those relating to iPS cell technology, under license from iPS Academia Japan.
"This capital increase will speed-up the development of innovative industrial tools derived from iPS cells," said David Sourdive, CEO of Ectycell. "The programs that have been launched should lead to the establishment of a world-leading industrial iPS cell bank in terms of volume and diversity by 2015."
The agreement with Caisse des Depots is part of an ambitious program launched by Ectycell and dedicated to the development, industrial production and marketing of iPS cells.
"This agreement shows that Caisse des Depots, as a privileged partner of the State and local government authorities, considers investment in SMEs a priority, helping to strengthen their equity and promote innovation," indicated Patrick Francois, Interregional Director Ile de France of Caisse des Depots. "It is in line with the support we provide to the French regional poles of competitiveness initiative by investing in innovation platforms."
This program will be run with the support of Oseo, a French p
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