Caladrius Biosciences said today it has licensed exclusive global rights to its tumor cell/dendritic cell technology for treating ovarian cancer to AiVita Biomedical.
The value of the licensing deal was not disclosed, although Caladrius said it will receive from AiVita payments tied to achieving unspecified milestones as well as royalties on commercial product sales.
Under the license agreement, AiVita agreed to shoulder all costs toward developing a product using the licensed intellectual property, including maintenance costs of the associated intellectual property.
The license contributes to AiVita’s intellectual property protection for its next-generation immunotherapy targeting cancer stem cells. Later this year, AiVita intends to begin a Phase II clinical trial to evaluate the efficacy of its ovarian cancer treatment, Caladrius said.
AiVita has also agreed to sublease Caladrius’ former Irvine, CA, facility. Caladrius said the sublease will cover all cash obligations of the sublessor related to the rent and overhead of the Irvine facility for the remainder of the lease term.
The cell therapy deal is the second technology licensing agreement reached in recent months between the companies. In February, Caladrius licensed exclusive global rights to its cell-derived dermatological technology for topical skin applications to AiVita, also for an undisclosed price.
“Licensing this technology to AiVita is another step forward in streamlining our strategic focus and reducing our operating expenses while monetizing noncore assets through royalty and other milestone-driven transactions,” Caladrius CEO David J. Mazzo, Ph.D., said in a statement.
The company has sought to cut costs and generate new income through a restructuring begun in January that has involved laying off approximately 40 employees, ending development of its Phase III lead candidate CLBS20 for metastatic melanoma, and licensing some of its technologies to partners for undisclosed sums.
In addition to the skin technology now partnered with AiVita, Caladrius has licensed its CD34 ischemic repair technology for acute myocardial infarction and chronic heart failure to SPS Cardio in selected Asia-Pacific and Latin American countries, including India.
Caladrius—which changed its name last year from NeoStem—has also refocused its clinical development efforts on CLBS03, a Phase II T regulatory cell therapy candidate for type 1 diabetes.