Progenitor Cell Therapy Announces Collaboration with BD to Co-Develop and Market Assays for the Growing Cell Therapy Industry

HACKENSACK, New Jersey -(November 17, 2005) -- Progenitor Cell Therapy, LLC (PCT), a leading cell therapy manufacturing and services company, today announced an agreement with BD Biosciences, a segment of Becton, Dickinson and Company (BD), to co-develop and market products and services for the cell therapy industry, including: product characterization and comparability assays; in-process and final product release tests; and PCT’s contract cell therapy development and manufacturing platform resources.

Under the terms of the agreement, the companies will cooperate in offering sophisticated solutions to their customer bases that address the cell therapy industry’s manufacturing and testing challenges.

“This collaboration involves an investment by BD Biosciences in PCT’s future and reflects PCT’s commitment to leverage the core expertise of leading companies in the sector to bring the highest quality and most effective solutions to its cell therapy customers. This collaboration will enhance PCT’s position to deliver customer-driven solutions to the challenges faced by the growing field of cell therapy,” said Dr. Robert A. Preti, PCT’s President and Chief Scientific Officer.

Andrew L. Pecora , MD, FACP, PCT’s Chairman and Chief Executive Officer, said “our new business relationship with BD will bring synergy to the developing field of cell-based therapies that aims to treat a broad array of human diseases. By working together, our companies will enable our clients to develop and test cell-based therapies in a less costly and more rapid manner.”

Contact:

George S. Goldberger
Chief Business Officer
Progenitor Cell Therapy, LLC
(201) 883-5314
ggoldberger@progenitorcell.net

About Progenitor Cell Therapy, LLC (PCT)

PCT is a client-based cell therapy services company that supports the development of cellular therapies by providing cGMP-compliant cell manufacturing and consulting services that address regulatory, financial, technical, process and quality systems needs. PCT’s cGMP nationwide network of laboratories enables it to provide a full spectrum of support services, including preclinical development, clinical research, collection, processing, tissue storage, diagnostics/biologic product testing, manufacturing, distribution and transportation. For more information, please visit www.progenitorcelltherapy.com .