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news.Pluristem Therapeutics' exclusive out-license deal with United Therapeutics to develop cell-based product targeting pulmonary hypertension (PH) has came into force from 2 August 2011.
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According to the agreement, Pluristem is expected to license worldwide rights to United Therapeutics to develop and commercialize the future product for the treatment of PH, however Pluristem will hold all manufacturing rights of the product.
As per the terms of the agreement, Pluristem is entitled to get an upfront payment of $7m from United Therapeutics.
Additionally, United Therapeutics is responsible to pay regulatory milestone fees and other payments accumulating together with the upfront payment to a total of approximately $55m and reimbursement of costs of its development and clinical activities.
Under the contract, United Therapeutics will bear all the costs of conducting the clinical trials for this indication.
Following commercialization, United Therapeutics shall purchase commercial supplies from Pluristem at a specified margin over Pluristem’s cost.
In addition, United Therapeutics is responsible to pay Pluristem specified royalties as a percentage from its gross profits generated from the developed product.