Regeneus receives upfront payment of US$5.5m from AGC

Monday, 23 January 2017

Regeneus Ltd (ASX: RGS), a clinical stage regenerative medicine company, today announced it has received US$5.5m from AGC as an upfront payment for the exclusive rights to manufacture Progenza under the terms of the collaboration and licence announced on 29 December 2016.

Regeneus is expected to receive a further US$11m in specific development and approval milestone payments. Regeneus will be entitled, through its 50 per cent interest in Regeneus Japan, to its share of upfront licence fees, milestone payments and royalties from sub licensing the development and commercialisation of Progenza for osteoarthritis and all other clinical indications in Japan. AGC will be responsible for funding the manufacture of Progenza for the proposed Phase 2 trial for osteoarthritis in Japan under specific conditions.