Strategic Collaboration for Commercialization of Progenza
Enters Into Collaborative Agreement With Asahi Glass (TYO:5201) To Commercialize Progenza
Sydney, Jan 13, 2017 AEST (ABN Newswire) - Regeneus Ltd (ASX:RGS), a clinical-stage regenerative medicine company, announced that it has entered into a strategic collaboration and licensing agreement with AGC Asahi Glass (AGC) (TYO:5201), a world-leading manufacturer of glass, chemicals, high-tech materials and biopharmaceuticals, for the manufacture, clinical development and commercialization of Progenza, a patented off-the-shelf stem cell technology platform, for the Japanese market.
Overview of collaboration
Under the terms of the agreement, Regeneus grants AGC exclusive rights to manufacture Progenza in Japan and a 50 percent interest in Regeneus Japan, which has the exclusive rights for the clinical development and commercialisation of Progenza in Japan for osteoarthritis and all therapeutic applications.
Regeneus will receive US$16.5 million from AGC, with US$5.5million as an upfront payment and the remaining $11m in specific development and approval milestone payments. Regeneus will also be entitled, through its 50% interest in the joint venture, to its share of upfront licence fees, milestone payments and royalties from sub licensing the development and commercialization of Progenza for osteoarthritis and all other clinical indications in Japan.
AGC will be responsible for funding the manufacture of Progenza for the proposed Phase 2 trial for osteoarthritis in Japan under specific conditions.
About Asahi Glass Co., Ltd
AGC (Asahi Glass Co Ltd) (TYO:5201) solves everyday challenges with its world-leading, cutting-edge technologies. Using the world's top-class technologies cultivated through a history of technological innovation extending over 100 years, AGC has continued to achieve the creation of new values in the business areas of Glass, Electronics, Chemicals, and Ceramics.
About Regeneus Ltd
Regeneus Ltd (ASX:RGS) is a Sydney-based clinical-stage regenerative medicine company using stem cell technologies to develop a portfolio of novel cell-based therapies. The regenerative therapies seek to address unmet medical needs in human health markets, focusing on neuropathic pain, including osteoarthritis and various skin conditions, with its platform technologies Progenza(TM) and Sygenus. Visit www.regeneus.com.au for more information.