Regeneus Ltd - Kyocera completes Progenza OA due diligence
Regeneus Ltd (ASX:RGS)

Kyocera completes Progenza OA due diligence


What's happened?

Regeneus Ltd (ASX: RGS, “Regeneus”) today announced it has received notification that Kyocera Corporation (TYO:6971) has completed its due diligence process on its lead stem cell platform technology Progenza for treatment of Knee Osteoarthritis (Progenza OA).

What are the key highlights?

  1. Progenza OA has met Kyocera’s due diligence criteria and the completion of this phase progresses the non-binding Memorandum of Understanding (MOU) announced on 2 March.
  2. Pursuant to the terms of the MOU, the milestone triggers a payment of JPY100M (approx. A$1.5M). The payment is refundable if a definitive commercial license is not executed.
  3. Under the terms of the MOU, Kyocera now will have until the end of July 2020 for exclusive rights to negotiate a commercial license for Progenza OA in Japan.

For further details, please see the announcement linked below.

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