"This is a mutually advantageous deal that we believe advances the adult neural stem cell field as a whole. The rights we have licensed from StemCells further solidify and strengthen our intellectual property position, and the agreement allows StemCells to use our intellectual property through approaches we are not currently pursuing in our own programs," said Joseph Tucker, Ph.D., President and CEO of Stem Cell Therapeutics.
"Stem Cell Therapeutics is focused on a drug-based approach to treating disease, while StemCells is developing cell-based therapeutic approaches using adult stem cells. I believe that this agreement should help both companies achieve their ultimate goals of bringing effective stem cell therapies to the patients who need them."
Stem Cell Therapeutics (SCT) will pay StemCells up-front and license maintenance fees, as well as milestone and royalty payments, while StemCells will pay SCT negotiable royalties based on products developed under the license.
More details about the deal form this press release.
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