Therapy Areas: Cardiovascular
Proceeds from RegeneRx License Expansion for RGN-137 Will Fund Operations
5 September 2017 - - Rockville, Maryland-based clinical-stage drug development company RegeneRx Biopharmaceuticals, Inc. (OTCQB: RGRX) has completed a license expansion agreement with GtreeBNT for the rights to RGN-137, RegeneRx's topical gel formulation of thymosin beta 4, in Europe, S. Korea, Japan, Canada, and Australia, the company said.
The financial terms of the agreement comprise three payments, including one upon signing and two subsequent additional payments over the next six months, as well as milestone payments and royalties on commercial sales.
The rights to RGN-137 and RGN-352 in Europe were previously licensed to the Sigma-Tau Group and were subsequently acquired by Alfa Wasserman when the two companies merged several years ago. RegeneRx reacquired these rights when the agreement with Sigma-Tau/Alfa Wassermann expired earlier this year.
"Proceeds from the license expansion agreement are non-dilutive and will allow us to maintain operations substantially though the first quarter of 2018, well past the expected release of data from our recently completed Phase 3 dry eye trial. I am also pleased that the agreement will allow GtreeBNT to access additional patients in the newly licensed territories for the upcoming Phase 3 epidermolysis bullosa clinical trial," said J.J. Finkelstein, RegeneRx's president and chief executive officer.
RegeneRx develops novel therapeutic peptides, including Thymosin beta 4 and its constituent fragments, for tissue and organ protection, repair and regeneration.
It currently has three drug candidates in clinical development for ophthalmic, cardiac and dermal indications, three active strategic licensing agreements in the US, China, and Pan Asia (Korea, Japan, and Australia, among others), and has patents and patent applications covering its products in many countries throughout the world.
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