Histogenics acquired the sole development and commercialization rights to NeoCart for the Japanese market from its development partner Purpose.
Here are five key notes:
1. In exchange for the transfer of development and commercialization rights, Histogenics will pay a success-based milestone to Purpose upon conditional approval of NeoCart in Japan.
2. Histogenics will also pay commercial milestones and a low single-digit royalty on Japanese sales of NeoCart, upon full approval.
3. NeoCart is a Phase 3 investigational product that uses many aspects of Histogenics' regenerative medicine platform to repair knee cartilage damage.
4. The Japanese market for cartilage repair is growing due to numerous factors, including new regulations. The Japanese Regenerative Medicine Law was passed in 2014 to potentially expedite the clinical development and commercialization pathways for regenerative cell-based medicines.
5. Histogenics is a regenerative medicine company focused on developing and commercializing products in the musculoskeletal segment.