Regeneus - Japan Collaboration Validates Progenza
Edison | Jan 30, 2017 02:12AM ET
Regeneus has entered into a US$16.5m collaboration with AGC Asahi Glass Co., Ltd. (T:5201, OTC:ASGLY) for manufacture of Progenza for the Japanese market. Regeneus and AGC have formed a 50:50 JV for clinical development and commercialisation of Progenza in Japan. We expect the JV to sub-license one or more partners to undertake clinical trials in a number of indications in Japan. We welcome the deal, which strengthens Regeneus’s balance sheet and provides significant validation for the Progenza technology and IP. Our valuation of Regeneus increases to A$120m or A$0.57/share, with the AGC cash and larger addressable market in Japan partly offset by longer timelines and revised assumptions for CryoShot and Kvax.
AGC gains exclusive rights to manufacture Progenza for the Japanese market. Regeneus received US$5.5m upfront plus they could earn up to US$11m of milestone payments. A JV was formed between the two companies for exclusive clinical development and commercialisation of Progenza in Japan for all clinical indications. Regeneus retains the rights to develop and manufacture Progenza for markets other than Japan. Regeneus’s technology and experience expanding mammalian stem cell populations in culture will help accelerate AGC’s entry into the manufacture of cell-based therapeutics in Japan.
To read the entire report Please click on the pdf File Below
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.