Under the terms of the agreement, which is subject to Indian government approval, Medistem Laboratories will receive cash and equity in TriCell. TriCell will receive access to Medistem’s intellectual property portfolio along with its know-how in the area of stem cell culturing and expansion for use in India and certain jurisdictions.
Thomas Ichim, CEO of Medistem, said: “This transaction positions Medistem to derive value from its IP assets while establishing a powerful collaborative base in India. TriCell’s access to significant medical facilities including a multi-specialty hospital that treats 3,000 patients daily provides a possible venue for performance of GCP-trials on Medistem’s various pipeline candidates.”