Teltow / Leipzig, 06 December 2021 – To implement the letter of intent signed in September 2021 that was the subject of an ad hoc announcement on out-licensing of the matrix-associated products co.don chondrosphere and Spherox for the Asian region, CO.DON AG and ReLive Biotechnologies (Nanjing) Co., Ltd. have now signed a corresponding licence agreement.
ReLive Biotechnologies (Nanjing) Co., Ltd. is a privately held biotechnology company established with the aim of developing advanced products for regenerative medicine and cell therapy. In the years ahead the company intends to become the market leader for regenerative medicine in China and Asia.
The exclusive licence for both CO.DON products was granted for the territories of the People’s Republic of China, Hong Kong, Macau, Singapore and Taiwan. The licensing agreement will cover out-licensing, as well as training and knowledge transfer by qualified personnel from CO.DON AG.
The Executive Board of CO.DON AG believes the agreement will form the basis for successful long-term cooperation. CO.DON AG is working on awarding additional licences for other markets outside Europe in which this business model is considered to be efficient and cost-effective for CO.DON AG.
When the contract is signed CO.DON AG will receive a one-off payment of USD 2.75 million. In the period until marketing authorisation is obtained, CO.DON will receive further payments of USD 5.5 million in total in accordance with defined milestones. Following the market launch in each of the Asian countries, the company will receive a share of revenue generated on the basis of the out-licensing agreement. The duration of the obligation to pay licence fees depends in particular on the lifetime of the intellectual property rights, but is currently expected to be until at least 1 June 2040. After CO.DON’s last licensed patent in the PRC expires a reduced licensing fee is payable for as long as the manufacturing know-how and the authorisation data are not publicly available.
CO.DON AG develops, produces and distributes autologous cell therapies for the minimally invasive repair of cartilage defects. The product being marketed is a cell therapy product for the minimally invasive treatment of cartilage damage in the knee joint that uses only the patient's own cartilage cells ("autologous chondrocytes"). CO.DON's method is currently used in over 200 clinics in Germany and more than 17,000 patients have already been treated. In July 2017 CO.DON AG received central EU marketing authorisation for this product, followed by the marketing authorization for Switzerland in March 2019. At the Leipzig site, CO.DON has built one of the largest facilities for the production of human cells on an industrial scale for in-house and contract manufacturing. The shares in CO.DON AG are listed on the Frankfurt Stock Exchange (ISIN: DE000A3E5C08). Executive Board: Tilmann Bur, Dr Achim Simons.
Further information is available from www.codon.de.
Director Corporate Communications
Investor Relations / Public Relations
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