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Xintela and EQGen Biomedical sign collaboration and license agreement for veterinarian stem cell products
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Medicinteknik |
Xintela and EQGen Biomedical Inc. (“EQGen”) have signed the definitive collaboration and license agreement, contemplated by their previously announced term sheet, for the development of Xintela’s equine stem cell product EQSTEM® and other animal stem cell products. EQGen gets global rights to Xintela’s stem cell technology for the treatment of veterinary musculoskeletal indications. Xintela and EQGen Biomedical will collaborate on product and process development as well as regulatory, clinical and commercial development of EQSTEM, initially for the treatment of joint diseases in horses. Xintela will receive a license fee of USD 1 million and USD 3 million worth of shares in EQGen, in conjunction with external financing of EQGen, as well as variable royalties up to low double digits. Upon signing, Xintela will receive USD 0.4 million as a deposit for the development of a GMP manufacturing process for EQSTEM.
Under the agreement, EQGen gets global rights to Xintela’s stem cell product EQSTEM for treatment of horses and stem cell product for other animals, including dogs, in musculoskeletal indications. EQGen gets an option to develop stem cell products for the treatment of other indications including tendon/ligament injuries.
Xintela will receive a license fee of USD 1 million and USD 3 million worth of shares in EQGen, in conjunction with external financing of EQGen, as well as variable royalties up to low double digits. Upon signing, Xintela will receive USD 0.4 million as a deposit for the development of a GMP manufacturing process for EQSTEM. In addition, Xintela will receive revenues from sub-licensing of EQSTEM and other animal stem cell products. When the option for other indications is activated, additional license fees will be paid to Xintela.
Xintela will provide services for GMP process development, quality management and initial GMP manufacturing of EQSTEM on a full cost compensation basis. In parallel, activities to transfer Xintela’s technology and production process to EQGen will take place for future production of EQSTEM in the US.
Comment from Xintela's CEO Evy Lundgren-Åkerlund:
“We are very excited about this collaboration and license agreement with EQGen Biomedical and to be part of EQSTEM’s continued journey to a market-approved product for the treatment of osteoarthritis and other musculoskeletal diseases in horses. To enable EQGen to begin horse clinical trials as soon as possible, the Xintela team is now starting the development of a GMP-compliant manufacturing process for EQSTEM for clinical studies, which is fully financed by EQGen’s founders. In parallel EQGen is working on landing external financing for clinical development and commercialization of EQSTEM. We are really looking forward to closely working with the EQGen team”.
Comment from EQGen Biomedical’s President, Founder and Chief Medical Officer Willem Scheele, MD:
“We are very impressed by Xintela’s patented stem cell technology and preclinical studies in horses showing that intra-articular therapy with integrin α10β1-selected mesenchymal stem cells protects against post-traumatic osteoarthritis. With the same technology Xintela has also demonstrated statistically significant, and clinically meaningful, improvement in knee pain and function for human patients with symptomatic osteoarthritis. This proven, multi-species platform significantly increases the probability of technical and regulatory success for development of an allogeneic, intra-articular stem cell therapy for osteoarthritis for both animals and humans. We are very excited to continue working with the Xintela team on EQSTEM, a stem cell product with the potential to treat inflammatory and degenerative joint disease in horses as a true disease modifying osteoarthritis drug”.
About EQGen Biomedical
EQGen Biomedical Inc. is a US-based veterinary health company pioneering regenerative therapies for companion animals and livestock. EQGen’s mission is to deliver next-generation products in veterinary medicine and to optimize the health of animals globally. EQGen's pipeline includes a proprietary stem cell treatment for equine osteoarthritis and musculoskeletal disease. For more information, please visit EQGenBiomed.com
About Xintela
Xintela develops medical products in stem cell therapy and targeted cancer therapy based on the Company's cell surface marker integrin α10β1 which is found on mesenchymal stem cells and on certain aggressive cancer cells. The stem cell marker is used to select and quality-assure the patent-protected stem cell product XSTEM®, which is in clinical development for treatment of knee osteoarthritis and difficult-to-heal leg ulcers. The company produces XSTEM for the clinical studies in its GMP-approved manufacturing facility. In cancer therapy, which is run by the wholly owned subsidiary Targinta AB, therapeutic antibodies, targeting integrin α10β1 (First-in-Class) are being developed for the treatment of triple-negative breast cancer and the brain tumor glioblastoma. Xintela conducts its business at Medicon Village in Lund, Sweden, and is listed on Nasdaq First North Growth Market Stockholm since 22 March 2016. Xintela's Certified Adviser is Carnegie Investment Bank AB (publ).