Under the agreement, Rohto will evaluate stem cell-derived human cells owned and provided by ISCO in a number of pre-clinical animal models. If the research is successful and the parties agree on remaining terms, it is anticipated that a definitive license agreement will be signed at the end of the twelve-month period of this research agreement. Certain key terms of such a license agreement, including the target disease areas and intellectual property rights, have been established in the research agreement.
"We are delighted to have such an outstanding company work with us, and we believe that the potential for this agreement is significant. Under the terms of the agreement Rohto will begin working with our cells immediately and if the program is successful we may move to the next stage, signing a definitive license agreement. Such an agreement would significantly enhance our standing in a number of ways. Firstly, having diligently built up our scientific strength and patent portfolio over the last few years, it would both validate our research as well as our ability to generate licensing revenue from our proprietary platform. Secondly, by expanding the use of our technology into new areas beyond that which we can address alone, it would add value to the Company." said Dr. Simon Craw, EVP of Business Development at ISCO.
Under the agreement ISCO will provide a number of differentiated human cells derived from the Company's collection of pluripotent human stem cells known as UniStemCell™. The Company has a track record of successfully demonstrating that human cells derived from UniStemCell™ are effective in animal models of various diseases and have the potential to be used as a basis for developing human therapies. The Company has adopted this approach successfully with a number of academic collaborators in the past.