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.
from Maeil Business News Korea
|Printer friendly Cite/link Email Feedback|
|Title Annotation:||Technology Licensing|
|Publication:||Stem Cell Lab World|
|Date:||Apr 29, 2019|
|Previous Article:||Magenta To Present Preclinical Data From Stem Cell Gene Therapy Expansion Program.|
|Next Article:||FDA Gives Nod To Rolling Review Of Company's License Application For GvHD Therapy.|