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GEN News Highlights : Mar 30, 2009

CHA Bio Gains Korean License for ACT’s Retinal Pigment Epithelium Technology

ACT could earn up to $1.9 million over the next 12 months.

Advanced Cell Technology (ACT) is licensing its retinal pigment epithelium (RPE) technology to CHA Bio & Diostech for development and commercialization exclusively in Korea. ACT could receive $1.9 million in up-front and milestone fees over the next year.

Under the terms of the agreement, CHA Bio will incur all the cost associated with RPE clinical trials in Korea. ACT expects to make an IND submission in the U.S. during the second half of this year.

The arrangement is part of a collaboration between the two companies, including a recent joint venture called Stem Cell & Regenerative Medicine International. It is located in Worcester, MA, and focuses on the development of human blood cells. It is majority owned by CHA Bio and has exclusive rights to ACT’s hemangioblast technology.