Thrombogenics agrees to outlicense stem cell technology

ThromboGenics said it is outlicensing its stem cell research platform as part of a strategic plan to invest resources in its preclinical pipeline. Revenue derived from this license will be used toward the acceleration and expansion of clinical programs for several promising drug candidates, including microplasmin for treatment of back of the eye diseases and certain vascular disorders, and TB-402, an anti-coagulant therapy for prevention of thrombosis in a number of important disease settings.

The stem cell technology is marketed by Millipore as Resgro and was originally developed by the ThromboGenics.

Under this agreement, ThromboGenics will license to Millipore its patents, data and know-how for the manufacturing, development and evaluation of Resgro. Millipore will assume responsibility for production and sales, as well as future costs. ThromboGenics will receive upfront and milestone payments, and will earn double digit royalties on Millipore’s sales.