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The University of Maryland Baltimore (UMB) and Paragon Bioservices, Inc. Announce the Formation of a Public-Private Stem Cell Technology Consortium
Date:4/28/2011

BALTIMORE, April 28, 2011 /PRNewswire/ -- UMB's Center for Stem Cell Biology and Regenerative Medicine and Paragon Bioservices, Inc., a contract research and GMP manufacturing organization with its headquarters at the University of Maryland BioPark, announced today the formation of a public-private partnership for developing and manufacturing stem cell therapies.

Dr. Curt I. Civin, Director of the University of Maryland's Center for Stem Cell Biology and Regenerative Medicine, a pioneer in cancer research and an internationally renowned physician-scientist who has made significant contributions in the field of blood-forming stem cell transplantation, stated "The main objective of the consortium is to accelerate the development of novel strategies for regenerative medicine, including new treatments and preventatives derived from stem cell research."

The Center will collaborate with Paragon Bioservices to establish a core facility that will offer stem cell services on a fee-for-service basis.  The services offered include cell banking and production of a variety of stem cell types.  Stem cells will be available for research purposes and, eventually, for clinical use. http://www.paragonbioservices.com/Research-Services/Stem-Cell-Services.aspx

The Consortium is being funded in part by a "Translational Research Award " from the Maryland Biotechnology Center.  According to Dr. Judy Britz, The MBC's Executive Director, "The Maryland Biotechnology Center evaluated 60 proposals and The Consortium effectively competed for its award since it is dedicated to crossing the translational medicine divide, creates a model for sustainability and increases the likelihood of commercialization of new technologies."

Dr. Marco Chacon, Paragon's President & CEO, commented, "It is an honor to work with Dr. Civin as well as a privilege to play a role in
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SOURCE Paragon Bioservices, Inc.
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