Teltow / Leipzig, 03 September 2021, 10:00 a.m. – CO.DON Aktiengesellschaft (hereinafter CO.DON or Company) is in discussions with ReLive Biotechnologies Group Limited for the exclusive out-licensing of its co.don chondrosphere and Spherox products as well as related patents and know-how in the Asian economic region. ReLive Biotechnologies Group Limited is a private biotechnological company creating novel regenerative medicine and cell therapy products.
The two companies have signed a Letter of Intent based on which an agreement is to be concluded for the exclusive out-licensing of both CO.DON products for the territories of the People's Republic of China, Hongkong, Macau, Singapore and Taiwan. The Letter of Intent is not binding.
According to the key terms currently discussed during the negotiations, CO.DON is to receive a one-time payment of USD 2.75 million upon signing of the agreement. Until the marketing permission is granted, CO.DON is to receive further staggered payments totaling in USD 5.5 million, depending on the achievement of certain milestones. After successful market entry in the respective Asian countries, the Company is to receive a pro-rata share of the revenues generated from the out-licensing. The duration of the obligation to pay license fees depends on the term of the relevant property rights; currently expected to last at least until 1 June 2040, insofar as ReLive Biotechnologies Group Limited is not still using protectable know-how after that date. It cannot be ruled out that key terms already discussed may change in the course of further negotiations or that no agreement will be reached at all.
The required approval of the Supervisory Board for the license agreement and the signing of a final agreement are still pending.
Notifying person: Tilman Bur, Management Board
Director Corporate Communications
Investor Relations / Public Relations
T: +49 (0)341 99190 330
F: +49 (0)341 99190 309