Under the agreement, Stem Cell Therapeutics (SCT) will pay StemCells up-front and license maintenance fees, as well as milestone and royalty payments.
The agreement also provides StemCells with access to SCT’s intellectual property portfolio for use in drug discovery, screening and testing, and therapeutic use of cellular compositions.
StemCells will pay SCT a commercially reasonable royalty to be negotiated in good faith on products developed under the license, according to a statement released by the company.
“We are delighted to have Stem Cell Therapeutics as our newest licensee in the neural stem cell field,” said Martin McGlynn, president and CEO of StemCells. “We regard them as a pioneer in the use of various molecules to induce a patient’s own stem cells to proliferate in the brain, and wish them great success with their programs, some of which are already clinical stage.”