Geron, GE Unit To Team Up In Stem-Cell Drug Development Effort

Jun 30th, 2009 - CNNMoney

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Stem Cell
Ge Unit
Ge Healthcare
Geron Corp
Development Effort
Selldrug-discovery Technologies
Biotechnology Concern

Geron Corp. (GERN) and General Electric Co.'s (GE) GE Healthcare announced aglobal licensing deal in which the companies will team up to develop and selldrug-discovery technologies derived from human embryonic stem cells.

Shares of biotechnology concern Geron jumped 19% premarket to $7.99.

In January the company received clearance from the U.S. Food and DrugAdministration for the first-ever human trial of a medical treatment derivedfrom embryonic stem cells.