July 21, 2011
ACT Signs License Agreement With South Korean Co.
Advanced Cell Technology Inc. of Marlborough has reached an agreement with South Korean biotechnology company CHA Bio & Diostech Co. Ltd. to deepen their collaboration in an existing joint venture.
Under the agreement, the joint venture, Stem Cell & Regenerative Medicine International, will license the rights to its hemangioblast program for clinical development to ACT in North America and to CHA in Korea and Japan. The two companies will both work to develop clinical therapies based on the technology.
Under the agreement, 10 employees of the joint venture are being reassigned to ACT.
The licensed technology involves using stem cells for clinical purposes including creating transfusable blood components and repairing vascular damage.
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