|CHABio&Diostech signs an exclusive licensing contract with placental stem cell therapy product development company, ‘Pluristem’|
CHABio&Diostech signs an exclusive licensing contract with placental stem cell therapy product development company, ‘Pluistem’
CHABio&Diostech has announced that they have entered into an exclusive licensing contract on PLX(Placental eXpanded) therapy product with Pluristem Therapeautics. Placental derived cell therapy product developed by Pluristem is currently on the clinical trial for the patients with critical leg ischemia or intermittent claudication in US and Germany. First phase of clinical trial has proven its stability.
Through this agreement, CHABio&Diostech acquired exclusive right of contract regarding placental stem cell therapy product in Korea. They have agreed that clinical data produced in Korea can be also used by other countries and they will establish a joint venture to commercialize their products. In order to intensify strategic partnership, they will exchange 10million stocks each.
According to CHABio&Diostech, the existing few stem cell therapy products not only have high prices but also have difficult surgical procedures. However, this placental stem cell therapy product for critical leg ischemia and intermittent claudication can be simply applied by injections and have price competitiveness as mass production is possible.
Representative of CHABio&Diostech has mentioned as “As this partnership is the first example of importing foreign pipeline by using CHABio&Diostech’s advantageous position in Korea, it will provide great strategic opportunities for various cell therapy products to make inroads into Korea and Asian markets.”
CHABio&Diostech’s strategic partner Pluristem, listed on NASDAQ,, is a 100% affiliated company of Pluristem Therapeautics that has leading-edge technology regarding placental derived mesenchymal cell or 3Dcell cultivation system.
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