Aratana Therapeutics (PETX) licenses Vet-Stem's allogenic stem cells in an exclusive agreement for the U.S. If approved by the FDA, it will be the first "off the shelf" regenerative cell therapy for the treatment of osteoarthritis in dogs.
Under the terms of the agreement, Aratana has an exclusive license to develop and commercialize Vet-Stem's technology in the U.S. for the treatment of pain and inflammation in canine osteoarthritis. It will pay Vet-Stem a $500K license fee at signing and up to $4.5M in success-based milestone payments. Aratana has exclusive rights to negotiate an expansion of the territory to include the European Union during 2014.
Aratana intends to conduct clinical trials to assess the therapy's safety and efficacy. A dose confirmation study will commence this month. The company does not expect regulatory clearance before 2016.