Alphabiz - CHA Biotech transfers 43 billion won worth of technology to Astellas Pharma, a Japanese pharmaceutical company

(사진= 연합뉴스)

[Alpha Biz=(Chicago) Reporter Paul Lee] Cha Biotech announced on the 2nd that it has signed a technology transfer contract worth 32 million dollars (about 43 billion won) with Astellas Pharma Regenerative Medicine Center (AIRM·Astellas Institute for Regenerative Medicine). The Astellas Pharma Regenerative Medicine Center is a subsidiary of Astellas Pharma, a large Japanese pharmaceutical company.

Under the contract, Cha Biotech will transfer retinal pigment epithelial cells (RPE) and embryonic cells (Blastomere) differentiation technology to the Astellas Pharma Regenerative Medicine Center. He will receive $ 15 million (about 20 billion won) as a down payment and up to $ 17 million (about 23 billion won) as a step-by-step royalty (milestone).

Cha Biotech will terminate the phase 1 and 2a clinical trials of senile macular degeneration (AMD) treatment in Korea early with this technology transfer contract.

Cha Biotech reported that its consolidated sales reached KRW 844.1 billion last year, the highest ever. The figure is up 16 percent from a year earlier.

Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)