Lineage Cell Therapeutics, Inc. (NYSE American and TASE: LCTX), a clinical-stage biotechnology company developing novel cellular therapies for unmet medical needs, today announced that it has entered into license agreements with three separate companies, each relating to different parts of Lineage’s intellectual property portfolio. All three companies have ongoing commercial operations, including with respect to their cell therapy-related assets. The aggregate up-front cash payment from the transactions was greater than one million dollars with additional cash and royalties due upon reaching certain development milestones or product sales.
“Lineage is a leading cell therapy company with clinically-validated technology based on one of the largest and most comprehensive patent estates in cell therapy,” stated Brian M. Culley, CEO. “We believe our IP estate has increased in value in part due to advancements made by us and others in the field of cell therapy. As a result, we have placed a greater emphasis on completing business development transactions which can help fund our operations without having to raise capital at unattractive prices. We have entered into three separate agreements with entities in the cell therapy space for the license, development, manufacture and sale of products based on our broad cell therapy platform and technologies. Each of the agreements are with companies which have already commercialized cell therapy-related assets and are well-positioned to advance our programs. We believe these partnerships help validate the superiority of our well-characterized and NIH-approved human cell lines, which are not genetically manipulated, and provide an external endorsement of our inventions. We intend to provide further updates to our stockholders as we work with our new partners. We also are pursuing external partnership opportunities to support the development of our OpRegen®, OPC1 and VAC2 programs, each of which may represent billion-dollar market opportunities in the emerging fields of cell therapy and immuno-oncology.”