Alachua, Fla.-based RTI Biologics will pay a $3 million license fee for rights to use Athersys' Multipotent Adult Progenitor Cell technologies for the development of biologic implants for orthopedic applications, according to a Genetic Engineering and Biotechnology News report.
RTI aims to make the first MAPC technology-based implants available for use in orthopedic surgery in early 2012.
Athersys stands to earn another $2 million in development and commercialization milestones and $35.5 million in cumulative revenue milestones, according to the report.
Read the Genetic Engineering and Biotechnology News report on the RTI, Athersy's deal.
Read other coverage on orthopedic devices:
- Orthopedic Implant Device Can Increase Bone Length
- Top 5 Orthopedic Device Companies Based on 2009 Revenues
RTI aims to make the first MAPC technology-based implants available for use in orthopedic surgery in early 2012.
Athersys stands to earn another $2 million in development and commercialization milestones and $35.5 million in cumulative revenue milestones, according to the report.
Read the Genetic Engineering and Biotechnology News report on the RTI, Athersy's deal.
Read other coverage on orthopedic devices:
- Orthopedic Implant Device Can Increase Bone Length
- Top 5 Orthopedic Device Companies Based on 2009 Revenues