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news.Forticell Bioscience has entered into a material transfer and technology evaluation agreement with CJ CheilJedang, granting CJ the exclusive right for a limited time to use its Fibrin MicroBeads technology for the extraction and expansion of mesenchymal-type stem cells from human umbilical cord blood.
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Forticell’s wholly owned subsidiary Hapto Biotech will provide Fibrin MicroBeads along with proprietary research protocols and methods developed at its Hapto Biotech research laboratories in Israel for the extraction of mesenchymal-type stem cells from umbilical cord blood.
CJ, along with an external scientific group on cord blood-derived stem cells led by professor and director Kyung Sun Kang at Adult Stem Cell Research Center, Seoul National University, will evaluate, elaborate and optimize Hapto’s procedures toward potential commercialization for in vivo treatment to induce regeneration or repair of damaged and/or diseased tissues. If the research performed during the evaluation period is successful, both Forticell and CJ will share new intellectual properties, and also both parties may thereafter negotiate a definitive patent licensing and product development agreement.