Hitachi Chemical Co., Ltd. ADROTCPK - Current
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.