Bone Therapeutics signed an exclusive, royalty-bearing license agreement with Asahi Kasei to develop and commercialize PREOB® autologous bone cell therapy in Japan, with an option to include China, Korea and Taiwan.
Bone Therapeutics will provide manufacturing expertise, while Asahi Kasei will gain exclusive rights to develop, register and market PREOB for the treatment of osteonecrosis of the hip and potential future orthopaedic applications. Asahi will make an initial payment of €1.7MM (~US $2.0MM), with potential milestone payments up to €7.5MM (~$8.9MM), as well as royalties.
PREOB’s human autologous osteoblastic cells, when implanted at a bone defect site, can mimic the natural process of bone formation and repair. The product is in pivotal Phase III study in Europe for hip osteonecrosis. Results from one-year follow-up are expected in 3Q18, and if strong efficacy is documented, recruitment could be terminated prematurely. Earlier this week, the company noted the cease of recruitment in the PREOB non-union fracture trial to focus resources on ALLOB® allogeneic bone cell therapy.
Bone Therapeutics signed an exclusive, royalty-bearing license agreement with Asahi Kasei to develop and commercialize PREOB® autologous bone cell therapy in Japan, with an option to include China, Korea and Taiwan.
Bone Therapeutics will provide manufacturing expertise, while Asahi Kasei will gain exclusive rights to develop,...
Bone Therapeutics signed an exclusive, royalty-bearing license agreement with Asahi Kasei to develop and commercialize PREOB® autologous bone cell therapy in Japan, with an option to include China, Korea and Taiwan.
Bone Therapeutics will provide manufacturing expertise, while Asahi Kasei will gain exclusive rights to develop, register and market PREOB for the treatment of osteonecrosis of the hip and potential future orthopaedic applications. Asahi will make an initial payment of €1.7MM (~US $2.0MM), with potential milestone payments up to €7.5MM (~$8.9MM), as well as royalties.
PREOB’s human autologous osteoblastic cells, when implanted at a bone defect site, can mimic the natural process of bone formation and repair. The product is in pivotal Phase III study in Europe for hip osteonecrosis. Results from one-year follow-up are expected in 3Q18, and if strong efficacy is documented, recruitment could be terminated prematurely. Earlier this week, the company noted the cease of recruitment in the PREOB non-union fracture trial to focus resources on ALLOB® allogeneic bone cell therapy.
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