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ENCell and Lucy Biotech Sign Licensing and Strategic Alliance Agreement for EN001

Sep 12, 2024•almost 2 years ago

Contract Type

agreement

Hong Kong SARBiotechnology

Description

ENCell has signed a licensing and strategic alliance agreement with Lucy Biotech for EN001, granting Lucy Biotech the rights to develop and commercialize EN001 in six Asian countries and regions in exchange for a payment of USD 1.5 million upfront and up to USD 18 million in milestone payments and royalties. Additionally, both companies have signed a joint research agreement leveraging their cryopreservation technologies to test the efficiency of MSC cells.

Company Information

Company

ENCell and Lucy Biotech

Location

Hong Kong SAR, China

About

ENCell is a biotechnology company focusing on mesenchymal stem cell therapy, while Lucy Biotech is a biotechnology company based in Hong Kong, specializing in technology utilizing anti-freeze proteins for cryopreservation.

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