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$16m collaboration between companies kicks off

$16m collaboration between companies kicks off

Geoff Cairns

A regenerative medicine company has entered into collaboration with a Japanese manufacturer of glass, chemicals, high-tech materials and biopharmaceuticals.

Firms: DibbsBarker (Regeneus); Abe, Ikubo and Katayama (AGC Asahi Glass)

Deal: Regeneus has announced it has entered into a collaboration and licensing agreement with AGC Asahi Glass (AGC).

Value: US$16.5 million

Area: Corporate M&A, intellectual property

Key players: The legal team advising Regeneus on the corporate aspects of this transaction was led by DibbsBarker M&A partner Geoff Cairns, with assistance from senior associate Lauren Malek.

The IP aspects of this transaction was led by DibbsBarker IP partner Rob McInnes, with assistance from special counsel Catherine Boxhall.

Deal significance: Regeneus is a regenerative medicine company, while AGC is a manufacturer of glass, chemicals, high-tech materials and biopharmaceuticals, for the exclusive manufacture of Progenza stem cell technology for the Japanese market.

As part of this transaction, Regeneus will receive US$16.5 million from AGC in connection with the 50/50 joint venture that grants AGC the exclusive rights to manufacture, clinically develop and commercialise Progenza in Japan.

Through the joint venture, Regeneus is also entitled to its share of upfront licence fees, milestone payments and royalties from sublicensing Progenza, according to a statement by DibbsBarker.

“It was great to help Regeneus with this exciting collaboration with AGC,” DibbsBarker partner Geoff Cairns said.

“This gives Regeneus a footprint in the Japanese market and enables them to continue to manufacture, develop and commercialise their technology in partnership with a world-class multinational.

“Regeneus is a longtime client of the firm, and it is exciting to see clients that are doing great things for life sciences in Australia extend their reach internationally.”

 

 

 

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