Receives Milestone Payment from Kyocera
Sydney, Aug 28, 2020 AEST (ABN Newswire) - Regeneus Ltd (
ASX:RGS), a clinical-stage regenerative medicine company, is pleased to announce that is has received a payment of 100M JPY (~A$1.3M) from Kyocera Corporation (Kyocera, TYO:6971) following the completion of execution of the agreement between the two companies for Kyocera to exclusively develop and commercialise Regeneus' lead stem cell platform technology Progenza for the treatment of Knee Osteoarthritis in Japan (refer to ASX announcement on 11 August).
Highlights:
- Regeneus receives payment of 100M JPY (~A$1.3M) from Kyocera Corporation
- Payment follows the completion of execution of the agreement between the two companies for Kyocera to exclusively develop and commercialise Regeneus' lead stem cell platform technology Progenza for the treatment of Knee Osteoarthritis in Japan
Pursuant with the terms of the agreement, Regeneus is expected to receive a further US$4M from Kyocera in October 2020. The Company will notify the market once this payment has been received.
About Regeneus Ltd
Regeneus Ltd (ASX:RGS) is a Sydney-based clinical-stage regenerative medicine company using stem cell technologies to develop a portfolio of novel cell-based therapies. The regenerative therapies seek to address unmet medical needs in human health markets, focusing on neuropathic pain, including osteoarthritis and various skin conditions, with its platform technologies Progenza(TM) and Sygenus. Visit www.regeneus.com.au for more information.
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