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news.BioSante Pharmaceuticals has signed a license agreement with Medical Aesthetics Technology Corporation for the use of its patented calcium phosphate nanotechnology as a facial filler in aesthetic medicine.
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This license agreement is a result of Medical Aesthetics Technology Corporation’s (MATC’s) exercise of a previously signed option agreement. Under the agreement, MATC is responsible for continued development of the facial filler BioLook, including required clinical trials, regulatory filings and all manufacturing and marketing associated with the product. In exchange for this license, BioSante has taken an ownership position in MATC of about 5.5%.
In addition to the ownership position, BioSante may receive certain milestone payments and royalties as well as share in certain payments if MATC sublicenses the calcium phosphate (CaP) technology.
Stephen Simes, BioSante’s president and CEO, said: “The area of aesthetic medicine is growing both in prescription and non-prescription products. Results to date are indicative that BioLook may have a role to play in this large and growing market. Our license agreement with MATC and the work in aesthetic medicine as well as the ownership position in MATC all are part of our strategic effort to maximize the value of CaP nanotechnology to our stockholders.”