Kyocera completes Progenza Due Diligence
Progenza OA has met Kyocera's due diligence criteria and the completion of this phase progresses the non-binding Memorandum of Understanding (MOU) announced on 2 March.
Pursuant to the terms of the MOU, the milestone triggers a payment of JPY100M (approx. A$1.5M). The payment is refundable if a definitive commercial licence is not executed.
Under the terms of the MOU, Kyocera now will have until the end of July 2020 for exclusive rights to negotiate a commercial license for Progenza OA in Japan.
About Regeneus Ltd
Regeneus Ltd (ASX:RGS) is a Sydney-based clinical-stage regenerative medicine company using stem cell technologies to develop a portfolio of novel cell-based therapies to address significant unmet medical needs in the human health markets with a focus on osteoarthritis and other musculoskeletal disorders, neuropathic pain and dermatology.