Regenerative medicine company, Regeneus Ltd (ASX:RGS) has entered a collaboration and licensing deal with Tokyo-based AGC Asahi Glass to manufacture, clinically develop and commercialise Progenza in the Japanese market.
Progenza is a patented off-the-shelf stem cell technology developed for the treatment of knee osteoarthritis, in addition to other inflammatory conditions.
Under this deal, Regeneus has granted AGC exclusive rights to manufacture Progenza in Japan, and a 50% interest in Regeneus Japan.
In exchange, Regeneus will receive $16.5 million from AGC, and will be entitled to a share of upfront licence fees, milestone payments and royalties.
Regeneus reported a net loss of $3.6 million at 30 June 2016.
