- Regeneus (RGS) has signed an agreement with Kyocera Corporation to give it exclusive negotiation rights to Progenza for treating knee osteoarthritis
- Progenza is the company's leading cell therapy technology for treating osteoarthritis and other musculoskeletal disorders
- Kyocera is a major Japanese life sciences company which makes dental and medical products such as artificial joints for the knee and hip
- Kyocera will conduct due diligence for Progenza and then pay Regeneus 100 million Japanese yen
- The company will have until the end of July to negotiate a commercial licence for Progenza in Japan
- Regeneus' shares have sky rocketed 30.2 per cent and are trading for 6.9 cents each
Regenerative medicine company Regeneus (RGS) has signed a non-binding memorandum of understanding with Kyocera Corporation.
Kyocera is a major Japanese multinational life sciences company which produces dental and medical products including artificial joints for the knee and hip.
Under the agreement, Kyocera will gain exclusive negotiation rights to Regeneus' cell therapy technology, Progenza, for the treatment of knee osteoarthritis.
Progenza is made from expanded allogeneic mesenchymal stem cells (MSCs) from human adipose tissue (connective tissue) and contains the bioactive secretions of the cells which have shown increased therapeutic benefit.
It reduces inflammation and promotes healing and repair in the damaged or diseased tissue.
Kyocera will conduct due diligence for Progenza which is expected to take no more than 45 days after the delivery of documentation. Once due diligence is completed, Kyocera will pay Regeneus 100,000,000 JPY (approx. A$1.4 million).
It will have until the end of July to negotiate a commercial licence for Progenza in Japan.
"This Memorandum of Understanding with a company of Kyocera’s prominence is an important step in the commercialisation pathway for Progenza OA in Japan," Regeneus CEO and Executive Director Leo Lee said.
Regeneus' shares have sky rocketed 30.2 per cent and are trading for 6.9 cents each at 12:30 pm AEDT.