Developer of innovative cell-based medicines Mesoblast
(ASX:MSB) has granted biopharmaceutical company TiGenix an exclusive global patent license that enables the global commercialisation of its stem cell product.
The agreement includes the right for TiGenix to grant sub-licenses to affiliates and third parties, including TiGenix’s current development and commercialisation partner.
Mesoblast will receive up to €20 million in payments, with €5 million upfront, €5 million within 12 months and up to €10 million in product regulatory milestones.
TiGenix CEO Eduardo Bravo said the company is delighted with this exclusive license agreement, which will broaden its IP protection of the product and move closer to commercialisation in Europe.
The adipose-derived mesenchymal stem cell product Cx601 is used for the treatment of fistulae.
Shares in Mesoblast
(ASX:MSB) are trading 5.56 per cent higher to $1.43.
