Bone out-licenses cell therapy platform in China and Southeast Asia

Bone Therapeutics has signed an exclusive license agreement with Link Health and Shenzhen Pregene Biopharma for the manufacturing, clinical development and commercialization of its allogeneic, off-the-shelf, bone cell therapy platform ALLOB in China, Taiwan, Singapore, South Korea, and Thailand.

Under the agreement, Bone is eligible to receive up to 55 million euros ($65 million) in development, regulatory and commercial milestone payments including 10 million euros in upfront and milestone payments anticipated in the next 24 months.

Bone is also entitled to receive tiered double-digit royalties on annual net sales of ALLOB. The Belgian firm retains development and commercialization rights in all other geographies outside of those covered by this agreement.