Business Wire Press Release: 02.26.09, 09:00 AM EST: Cellatope Corporation Completes Sale of Assets
Cellatope Corporation (formerly StageMark, Inc.), a cell analysis company developing innovative research and diagnostic products and services for autoimmune diseases, announced today that it had completed the sale of certain rights and intellectual property to its technology platform based on cell-bound complement activation products to Cypress Bioscience, Inc. (NASDAQ:CYPB). Cellatope has been developing the technology principally for the diagnosis and monitoring of systemic lupus erythematosus (SLE, or "Lupus"). Edward L. Erickson, Chairman of the Board, President and Chief Executive Officer, of Cellatope, commented in part: "I am very pleased that in less than two years from our restart round of financing we were able to add significant value to this important technology platform and obtain an exit for stockholders in extremely untidy economic conditions. Our board, major shareholders and the University of Pittsburgh have been extremely supportive throughout the Company's history. Recognition is also due Wilcox & Aceto, Intellectual Property Counsel, for their advice and assistance in what proved to be a lengthy and complex deal."
