Bone Biologics (BB) entered into an exclusive license agreement with UCLA for global application of NELL-1 protein in the treatment of osteoporosis and trauma, through a technology transfer. NELL-1 is a recombinant human protein growth factor that supports normal bone development. Researchers are examining its ability to systemically restore bone and prevent further loss.
BB also expanded its Field of Use definition of the UCLA License Agreement. In short, this refers to an agreement entered in 2006 that has since received numerous amendments. It provides BB with exclusive license to several UCLA patents covering enhanced NELL-1 bone mineralization. A tenth amendment granted BB the rights, after completing certain milestones, to negotiate an expanded Field of Use to include treatment of osteoporosis. As of May 2017, all milestones were met and negotiations commenced.
Now, BB and UCLA will study the application of NELL-1 as a platform technology for use in spinal fusion, trauma and osteoporosis.
Full terms of the UCLA Exclusive License Agreement are available in Bone Biologics' most recent Form 10-Q under Note 5: Commitments and Contingencies.
Source: Bone Biologics Corp.