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news.Stem cell firm Neuralstem has reported that CJ CheilJedang has purchased an option to negotiate for the exclusive license to Neuralstem's stem cell-products and technology, after the company completes a successful human clinical trial.
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Under the terms of the agreement, CJ has purchased $2.5 million worth of Neuralstem stock at $4.063 per share. The terms of the license will be negotiated after the first successful human trial.
CJ exclusive markets will include, Korea, Indonesia, Philippines, Malaysia, Singapore and Vietnam, with a first right of negotiation for China and Japan. Neuralstem is planning to begin human clinical trials in 2008 with its stem cell products.