Celyad Inks Commercial License Deal With Medisun For C-Cure In Greater China

(RTTNews) - Belgian biopharmaceutical company Celyad SA (CYAD) announced that it has entered into a new collaboration and distribution agreement with its Hong-Kong based partner, Medisun International Ltd.

The license agreement confirms Celyad's intention to expand the global footprint of its lead cardiac disease cell therapy candidate for the treatment of ischemic heart failure, C-Cure.

Under the terms of the new license agreement, Celyad will conduct all clinical development and undertake any regulatory steps necessary for market approval in China, Hong-Kong, Taiwan and Macau. With a minimum of 20 million euros, these activities will be funded by Medisun.

In exchange for the license, and in addition to the benefit of the funding provided by Medisun to support clinical development, Celyad will receive royalties and profit sharing.

The royalty rates ranging from 10 to 30 percent are calculated on total revenues of C-Cure, and profit sharing ranging from 20 to 25 percent are calculated on total revenues less royalties.

This agreement will last for an initial period of fifteen years, subject to earlier termination as specified in the agreement.