SCS' latest deal brings them one step closer to positioning itself as the leading supplier of stem cell derived cell types for drug discovery, a rapidly developing market.

Currently, the best estimates expect the sector's value to rocket to almost $14.2bn (€11.2bn) worldwide in the next ten years.

As a result, the US stem cell therapeutic market is expected to reach upwards of $3.6bn in 2015.

The one-year agreement sees SCS partner up with NeuroSolutions, the UK-based subsidiary of NeuroDiscovery will primarily focus on targets that are relevant to the future treatment of major neurological diseases.

"It's an exciting collaboration," he said. "The pharmaceutical industry's demand for SCS's stem cell-derived, functionally validated neurones continues to grow and this collaboration will enable us to further extend the range of products we can supply."

Additonal terms of the agreement will see any new intellectual property generated by the tie-up jointly owned on a 50:50 basis.

Stem-cell derived neurones has been the source of great excitement for scientists who believe that pioneering research promises one day to help repair damage from nerve-destroying illnesses such as Lou Gehrig's disease, or from spinal cord injuries.

"This will enable NeuroSolutions to provide an enhanced service to its established biopharmaceutical clients but also open new opportunities for us to expand our offerings," said Mark Treherne, chairman of NeuroDiscovery.