Regeneus receives upfront payment of US$5.5m from AGC
Regeneus Ltd (ASX: RGS), a clinical stage regenerative medicine company, today announced it has received US$5.5m from AGC as an upfront payment for the exclusive rights to manufacture Progenza under the terms of the collaboration and licence announced on 29 December 2016.
Regeneus is expected to receive a further US$11m in specific development and approval milestone payments.
Regeneus will be entitled, through its 50 per cent interest in Regeneus Japan, to its share of upfront licence fees, milestone payments and royalties from sub licensing the development and commercialisation 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.
Regeneus Ltd (ASX: RGS) is a Sydney-based clinical-stage regenerative medicine company using stem cell and immuno-oncology technologies to develop a portfolio of innovative cell-based therapies to address significant unmet medical needs in the human and animal health markets with a focus on osteoarthritis and other musculoskeletal disorders, oncology and dermatology.
About AGC Group
AGC Asahi Glass (or also called AGC, Registered Company name: Asahi Glass Co., Ltd., Headquarters: Tokyo, President & CEO: Takuya Shimamura) is the parent company of the AGC Group, a world-leading glass solution provider and supplier of flat, automotive and display glass, chemicals, biopharmaceuticals, ceramics and other high-tech materials and components. Based on more than a century of technical innovation, the AGC Group has developed a wide range of cutting-edge products. The AGC Group employs some 50,000 people worldwide and generates annual sales of approximately 1.3 trillion Japanese yen through businesses in about 30 countries. For more information, please visit: www.agc-group.com.
To learn more about deal-making between stem cell companies and Japanese players, view “Cell Therapy in Asia Erupts with Partnerships and Joint Ventures.”