trending Market Intelligence /marketintelligence/en/news-insights/trending/yatCvWzRI5l2XbkzggKuRw2 content esgSubNav
In This List

Japan's FUJIFILM takes equity stake in Cynata Therapeutics

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage

Video

S&P Capital IQ Pro | Powering Your Edge

Blog

Enterprises are missing out on 24B by not optimizing cloud spending not going multicloud

Blog

Investment Research Analysts Providing Greater Coverage on Inflation


Japan's FUJIFILM takes equity stake in Cynata Therapeutics

Australia's Cynata Therapeutics Ltd. said it executed a license option agreement with Japan's FUJIFILM Corp. to develop and commercialize certain Cynata technology.

As part of the deal, FUJIFILM acquired a A$3.97 million strategic equity stake in Cynata through the purchase of 8,088,403 ordinary Cynata shares. After the transaction closes, FUJIFILM will hold a 10.01% stake in Cynata.

The agreement grants FUJIFILM the option to an exclusive, worldwide licence to market CYP-001, Cynata's lead induced pluripotent stem cell-derived therapeutic mesenchymal stem cell product for graft-versus-host disease. The option is exercisable up to 90 days after a primary evaluation period of Cynata's phase 1 clinical trial in GvHD is completed.

An up-front fee of US$3 million is payable, which, including other potential future milestones, totals over A$60 million in potential one-time payments, along with double-digit royalties on net sales of CYP-001 product. If FUJIFILM exercises the option, it will shoulder future CYP-001 development costs.

The agreement also covers an option to negotiate a license for manufacturing CYP-001 product and certain rights to Cynata's proprietary Cymerus technology for treatment of other diseases.

As of Jan.18, US$1 was equivalent to A$1.32.