Caladrius Biosciences, Inc.NASDAQ
Mon, Mar. 14, 12:35 PM
- Hitachi Chemical (OTCPK:HCHMY) establishes a 19.9% stake in Caladrius Biosciences (CLBS +16.8%) in conjunction with their global regenerative medicine collaboration. Under the terms of the partnership, Caladrius subsidiary PCT, LLC, will license its cell therapy technology and know-how to Hitachi for certain Asian territories, including Japan. Caladrius will receive an upfront payment and near-term milestones of $5.6M. Hitachi will pay service fees and royalties on contract revenue in its territories as well as all capital and operational expenses associated with ramping up the business on which PCT is entitled to royalties.
- Hitachi and PCT are also mulling a joint venture in Europe.
Apr. 14, 2014, 7:20 AM
- NeoStem (NBS) has agreed to acquire start-up California Stem Cell, which has developed Melapuldencel-T, an immune based-therapy designed to eliminate tumor cells that can cause disease recurrence.
- NeoStem will pay 5.33M shares - worth $34.1M based on the firm's closing price of $6.40 on Friday - as well as up to $90M in milestone and royalty payments in cash or shares. NeoStem is currently trading up 9.4% at $7 per share in premarket action.
- With Melapuldencel-T already achieving "compelling trial results for the treatment of metastatic melanoma," NeoStem intends to initiate a Phase III trial of the treatment. The drug has already received Special Protocol Assessment (SPA) from the FDA, as well as Fast Track designation for metastatic melanoma and Orphan Drug status.
- NeoStem shares have been halted and are due to restart trading at 7:30 ET. (PR)