Australian regenerative medicine company Cynata Therapeutics (ASX:CYP) has announced Fujifilm has exercised its license option in graft-versus-host disease (GvHD).
Cynata said the exercise of the license option follows the successful completion of the phase 1 clinical trial of CYP001 in GvHD, where all safety and efficacy endpoints were achieved.
Japanese company Fujifilm has been granted an exclusive, worldwide license to develop and commercialise Cynata’s lead mesenchymal stem cell (MSC) product, CYP-001, for the prevention and treatment of GvHD.
Cynata will receive US$3 million in cash from Fujifilm as an upfront fee, which the company said it will use to fund the upcoming phase 2 trials in critical limb ischemia and osteoarthritis, plus additional potential consideration of up to US$43 million based on the achievement of product development and commercial milestones.
Cynata will also receive a 10 per cent royalty on all future product sales if the licensed product is successfully commercialised in any country.
According to Dr Ross Macdonald, Cynata’s CEO, “Fujifilm’s decision to exercise its license option in GvHD is a clear validation of our Cymerus platform technology solution for manufacturing MSCs at scale. We now look forward to Fujifilm taking this product through further clinical development activities and subsequently to market.”