Fujifilm invests in Australian regenerative medicine venture Cynata

4 October 2016

Japanese conglomerate Fujifilm Corp has reached a basic agreement with the Australian regenerative medicine venture, Cynata Therapeutics s (ASX: CYP)to invest $3 million in the company.

Following the signing of a formal contract, Fujifilm will receive the third-party allocation of Cynata's new shares to acquire slightly over 10% of Cynata's total number of shares issued.

Through the third-party share allocation, Fujifilm will have an option to acquire the development, manufacturing and sales licensing rights as well as contract manufacturing rights for the regenerative medicine product using allogeneic iPS cell-derived mesenchymal stem cells, for which Cynata plans to carry out clinical trial on graft versus host disease (GvHD) patients. The agreement also allows Fujifilm to access Cynata's technologies and know-how for developing regenerative medicine products using allogeneic iPS cell-derived mesenchymal stem cells.

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