Lineage Inks Option Agreement With Amasa Therapeutics For HyStem
- Lineage Cell Therapeutics Inc (NYSE: LCTX) has granted an exclusive option to Amasa Therapeutics Inc to acquire an exclusive, royalty-bearing license to use its HyStem technology to develop and commercialize therapies for local treatment of solid tumors under pre-negotiated terms.
- Under the option agreement, Amasa will purchase some amounts of Lineage's existing supply of clinical-grade HyStem biomaterial and has the right to buy additional quantities in up to 12 months.
- Lineage will receive an upfront cash payment and, if the option is exercised, would be entitled to additional payments, sales royalties, and sublicense fees and royalties.
- HyStem is a patented biomaterial made from and structurally mimics naturally occurring extracellular matrix, the structural network of molecules surrounding cells in organs and tissues.
- Price Action: LCTX shares are up 2.80% at $2.94 during the premarket session on the last check Thursday.
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