Stem cell specialist ReNeuron Group PLC (AIM:RENE) said it signed an additional licensing agreement with Fosun Pharma, potentially paving the way for a technology transfer of its CTX drug product for its stroke disability programme.
The latest deal, which builds on a tie-up with the Chinese group brokered in April 2019, will see ReNeuron receive an initial £320,000 on signing with additional payments expected, based on services and CTX cell bank vials supplied in future.
"We are pleased to announce progress in the technology transfer of the CTX drug product to Fosun and believe this highlights the commitment Fosun has to the programme in Greater China," ReNeuron chief executive Olav Hellebø said.
The company is developing stem cell-based therapies and is a pioneer in technologies using exosomes, which are cellular couriers.