Movers and SHAKERS
Lineage Cell Therapeutics (LCTX)
Genentech Licensing Agreement For OpRegen Begins Transformation
Lineage Cell Therapeutics is a clinical-stage biotechnology company developing novel cell therapies for unmet medical needs. Lineage’s programs are based on its robust proprietary cell-based therapy platform and associated in-house development and manufacturing capabilities. With this platform Lineage develops and manufactures specialized, terminally differentiated human cells from its pluripotent and progenitor cell starting materials. These differentiated cells are developed to either replace or support cells that are dysfunctional or absent due to degenerative disease or traumatic injury or administered as a means of helping the body mount an effective immune response to cancer. Lineage’s clinical programs are in markets with billion dollar opportunities and include three allogeneic (“off-the-shelf”) product candidates: (i) OpRegen®, a retinal pigment epithelium transplant therapy in Phase 1/2a development for the treatment of dry age-related macular degeneration, a leading cause of blindness in the developed world; (ii) OPC1, an oligodendrocyte progenitor cell therapy in Phase 1/2a development for the treatment of acute spinal cord injuries; and (iii) VAC, an allogeneic dendritic cell therapy platform for immuno-oncology and infectious disease, currently in clinical development for the treatment of non-small cell lung cancer. For more information, please visit www.lineagecell.com or follow the Company on Twitter @LineageCell.
Robert LeBoyer, Senior Research Analyst, Noble Capital Markets, Inc.
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OpRegen Licensing and Collaboration With Genentech Announced. Lineage Cell and Genentech/Roche (RHHBY, $50.89, Not Rated) announced a licensing agreement covering OpRegen, the retinal pigment epithelial (RPE) cell transplant currently in Phase 1/2a development. Under the agreement Genentech will assume responsibilities and expenses for developing OpRegen through commercialization in exchange for $50 million in upfront payments, $620 million in milestones, and royalties on sales.
Financial Terms Include $50 Million in Up-Front Payments Plus $620 Million in Milestones and Sales Royalties. The agreement includes an up-front signing fee of $50 million plus undisclosed milestone payments of up to $620 million, and double-digit royalties on sales. Lineage Cell is obligated to make payments to the originators of the technology, which we estimate to be about $22 million, for net ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.