Advanced Cell Technology, Inc.
Advanced Cell Technology and CHA Bio & Diostech to Collaborate on RPE Technology Development in Korea
Published in Hospital Business Week, April 19th, 2009
Advanced Cell Technology, Inc. (Advanced Cell, ACT) (OTC: ACTC) and a leading Korea-based stem cell company, CHA Bio & Diostech Co., Ltd. (CHA Bio), formerly CHA Biotech, Co., Ltd., announced that the parties have entered into a licensing agreement under which Advanced Cell will license its retinal pigment epithelium (RPE) technology, for the treatment of diseases of the eye, to CHA Bio for development and commercialization exclusively in Korea. ACT is eligible to receive up to a total of $1.9 million in fees based upon the parties achieving certain milestones, including ACT making an IND submission to the US FDA to commence clinical trials in humans using the technology, which ACT...
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