RegeneRx Completes License Expansion for RGN-137 in Europe, S. Korea, Japan, Canada and Australia
Friday, September 01, 2017
RegeneRx Biopharmaceuticals, Inc., a clinical-stage drug development company focused on tissue protection, repair and regeneration, today announced that it has completed a license expansion agreement with GtreeBNT for the rights to RGN-137, RegeneRx's topical gel formulation of thymosin beta 4 (Tβ4), in Europe, S. Korea, Japan, Canada and Australia.
The financial terms of the agreement comprise three payments, including one upon signing and two subsequent additional payments over the next six months. The agreement also includes milestone payments and royalties on commercial sales. The terms are consistent with previous licenses between the two parties. The Company will file non-confidential information related to the transaction on form 8-K.
The rights to RGN-137 and RGN-352 in Europe were previously licensed to the Sigma-Tau Group and were subsequently acquired by Alfa Wasserman when the two companies merged several years ago. RegeneRx reacquired these rights when the agreement with Sigma-Tau/Alfa Wassermann expired earlier this year.
"Proceeds from the license expansion agreement are non-dilutive and will allow us to maintain operations substantially though the first quarter of 2018, well past the expected release of data from our recently completed Phase 3 dry eye trial. I am also pleased that the agreement will allow GtreeBNT to access additional patients in the newly licensed territories for the upcoming Phase 3 epidermolysis bullosa (EB) clinical trial. Moreover, reacquisition of the European rights to RGN-352 should enhance strategic licensing discussions with multi-national pharmaceutical companies interested in world-wide rights to systemic administration of RGN-352 for the treatment of cardiac and central nervous system damage," stated J.J. Finkelstein, RegeneRx's president and chief executive officer.
