VANCOUVER, May 26, 2009 - ENKAM Pharmaceuticals A/S (ENKAM), a privately held Danish biopharmaceutical development company focused on cancer and central nervous system disorders, is pleased to announce that it has signed a licensing and development agreement with STEMCELL Technologies Inc ("STEMCELL"), a privately-owned Canadian company, which is a leader in specialty cell culture media, cell separation products and ancillary reagents for life science research. Under the terms of the agreement, ENKAM's Protein Mimetic Technology Platform (PMTP™) will be used for the rapid creation of active peptides which are able to mimic specific functions of larger proteins. STEMCELL, which delivers more than 900 products to more than 70 countries worldwide, will be responsible for developing and bringing new products to market. Financial terms of the agreement were not disclosed.

STEMCELL is committed to supporting stem cell and related areas of life science research worldwide by providing high quality, innovative research tools. STEMCELL's specialized culture media and cell separation products are available for a wide range of research applications including the Central Nervous System. The addition of ENKAM's peptides and technology provides an exciting new opportunity for STEMCELL.

In 2009, ENKAM successfully completed the formulation, clinical manufacture and preliminary toxicology testing of a novel peptide, FGLs, allowing both subcutaneous and intranasal administration of this potentially important neuroactive peptide. The FGLs clinical development plan will commence via strategic corporate partnering where advanced discussions are ongoing, a process managed by The Sage Group.

FGLs is a peptide which mimics the neural cell adhesion molecule (NCAM), which is known to work by protecting neuronal cells. Its activity re-establishes cognitive function by promoting the connectivity between cells resulting in the formation of new neurons from neural stem cells or neural progenitors. FGLs has been developed for the treatment of Alzheimer's disease, the most common form of dementia, estimated to affect approximately 15 million patients worldwide, including four million in the USA. The number of Alzheimer patients is expected to grow exponentially in the future.

Commenting on the partnership, Morten Albrechtsen MD, Chief Executive and a founder of ENKAM Pharmaceuticals, said: "We are very pleased with the STEMCELL agreement as we believe the combined synergies from both companies will lead to several exciting opportunities within the stem cell arena that will enable novel commercial products to be brought to the market."

Also commenting on the deal, President and CEO of STEMCELL, Dr. Allen Eaves, said: "The novel mimetic peptides being developed by ENKAM hold great promise to further improve the already outstanding performance of our existing neural tissue culture media products. As well these mimetic peptides may improve other tissue-specific media for the research and regenerative medicine markets for which we are developing additional new products."

About STEMCELL Technologies

As Scientists Helping Scientists, STEMCELL Technologies Inc. is committed to providing high-quality cell culture media, cell isolation products and accessory reagents for life science research. Driven by science and a passion for quality, STEMCELL Technologies provides over 1500 products to more than 70 countries worldwide. Our specialty cell culture reagents, instruments and tools are designed to support science along the basic to translational research continuum. To learn more, visit www.stemcell.com.