Skip to main content

Avagenesis Corp. Expands Licenced Technology to New Stem Cell Therapy Markets

CALGARY, AB / ACCESSWIRE / November 19, 2015 / Avagenesis Corp. ("Avagenesis" or the "Company") (TSXV: VVA), is pleased to announce it has entered into an amended agreement ("Amended Agreement") with Oceans Ingenuity Inc. ("Licensor") to expand its licensed field of use, for proprietary patented and patent-pending cell enrichment technology ("Enrichment Technology"), that produces potent biologically active stem cell candidates for a multitude of indications and conditions that have significant potential for use in stem cell therapies.

Under the terms of the Amended Agreement, the Licensor has expanded an exclusive worldwide license (except China) to develop and commercialize the Licensor's Enrichment Technology for the production of biologically active stem cell candidates in the fields of wound management and non-healing wounds, cardiovascular and heart diseases, peripheral arterial disease, critical limb ischemia or diabetic leg, hepatic disease and kidney disease. The license would be in addition to Avagenesis' current application in cosmetic and medical aesthetics and burn management.

With the significant increase in indications and conditions, the term and minimum royalties will remain the same for cosmetic and medical aesthetics and burn management, while the maximum royalties will increase to a maximum of 9.8% of net revenues by 2020 for wound management and non-healing wounds, cardiovascular and heart diseases, peripheral arterial disease, critical limb ischemia or diabetic leg, hepatic disease and kidney disease.

"The quality of the cells available to medical experts and researchers may have an important impact on the success of stem cell therapies. Starting with a readily accessible and potent enriched cell product offers the promise of potentially rapid changes in how a number of major and very difficult medical conditions can be treated." stated Dr. Richard Cook, Chief Medical Officer of Avagenesis.

About Avagenesis Corp.

Avagenesis is a biotechnology company engaged in the commercialization of licensed cell isolation medical technologies for use in regenerative medical aesthetics. Patent registrations, FDA registrations and other regulatory certificates are arranged through an exclusive licensing agreement with a related and affiliated company.

Neither the Exchange nor its regulation services provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Cautionary Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could," "intend," "expect," "believe," "will," "projected," "likely," "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Avagenesis' current belief or assumptions as to the outcome and timing of such future events. Actual future results and developments may differ materially from those contemplated by these statements depending on, among other things, the risk that Avagenesis may not successfully transition to a clinical stage company and the risk that Avagenesis may not successfully execute its development and commercialization activities. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Avagenesis. Avagenesis cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this press release is made as of the date hereof and Avagenesis is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Further Information

For further information, please contact:
Avagenesis Corp.
Alan Tam, CPA, CA
Chief Financial Officer
Telephone: (604) 377-7575

SOURCE: Avagenesis Corp.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.