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Korean Firm To Develop Stem Cell-Based Atopic Dermatitis Drug With Kangstem Biotech.

SEOUL, South Korea, March 26, 2019 -- SKC subsidiary SK Bioland has licensed an umbilical cord blood-derived stem cell product targeting atopic dermatitis from Korean stem cell company KangStem Biotech.

The license gives SK Bioland exclusive marketing rights to Kangstem's Furestem-AD in Korea, along with access to four patents and manufacturing technology related to a stem cell drug to treat atopic dermatitis.

The two companies will co-produce the drug once the technology transfer is complete.

In a regulatory filing, KangStem said the transaction is valued at $13.2 million, payable upfront, and will ease capital expenditures for KangStem so that it can focus on research.

The companies hope to complete the ongoing commercial development of Furestem-AD by 2020.

A Phase 3 clinical trial of the drug is underway at 11 Korean hospitals.

Contact: http://www.kangstem.com/

from Maeil Business News Korea

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Title Annotation:Technology Licensing
Publication:Stem Cell Business News
Date:Apr 29, 2019
Words:141
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