Celgene patents stem cell technology
New Jersey-based biotech gets legal protection for method of placental-derived stem cell recovery.
May 16, 2006: 9:05 AM EDT

NEW YORK (CNNMoney.com) - Celgene Corp., a biotech specializing in stem cell research, patented its methods for recovering stem cells from a human placenta after birth, the company said.

Celgene Cellular Therapeutics, a subsidiary of Summit, N.J.-based Celgene (down $0.16 to $40.45, Research), said that the U.S. patent has been issued and it's the first patent the company has obtained for its stem cell technologies.

Celgene said that the placental-derived stem cells "appear to be highly versatile and may have the potential to repair and regenerate a broad range of damaged or diseased tissues."

The company said it has additional U.S. patents pending.

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