News | January 06, 2008

Osiris Regains Rights to Stem Cell Technology

January 7, 2008 - Osiris Therapeutics Inc. has reclaimed sole worldwide rights to cardiovascular indications for Prochymal and terminated its development and commercialization agreement with Boston Scientific Corp. in order to provide Osiris with the flexibility to enter more strategically beneficial relationships.

Under the terms of the agreement Osiris will immediately regain worldwide rights to its stem cell technology for all cardiovascular indications. In exchange, Osiris has agreed to relieve Boston Scientific of a $50 million loan obligation and $45 million in development payments. Additionally, Osiris will repay a $5 million debt plus accrued interest in four quarterly installments.

Prochymal has reportedly demonstrated therapeutic utility across multiple disease states. By regaining the rights, Osiris will be able to enter into territory-specific, rather than indication-specific collaborations for Prochymal, and allows the company to continue development of Prochymal for the treatment of acute myocardial infarction.

For more information: www.Osiris.com

Related Content

Placental Stem Cells Can Regenerate the Heart After Heart Attack
News | Stem Cell Therapies | May 20, 2019
Researchers at the Icahn School of Medicine at Mount Sinai have demonstrated that stem cells derived from the placenta...
ProxiCor Extracellular Matrix Reduces Complications, Readmissions Following Pericardial Reconstruction
News | Stem Cell Therapies | April 19, 2019
Aziyo Biologics Inc. announced the publication of results from its landmark RECON study in the Journal of...
FDA Releases Final Guidances on Regenerative Medicine Therapies
News | Stem Cell Therapies | March 04, 2019
The U.S. Food and Drug Administration (FDA) recently finalized two guidance documents regarding regenerative medicine...
Heart Muscle Cells Created From Stem Cells Beat in Sync
News | Stem Cell Therapies | February 01, 2019
A team of Rutgers scientists have taken an important step toward the goal of making diseased hearts heal themselves – a...
FDA Clamps Down on Unapproved Stem Cell Therapies
News | Stem Cell Therapies | December 20, 2018
December 20, 2018 — The U.S.
Secant Introduces First Synthetic Regenerative Cardiovascular Graft for CABG
News | Stem Cell Therapies | January 17, 2018
Secant Group, in partnership with its sister company SanaVita Medical, announced new technology to advance...
News | Stem Cell Therapies | October 24, 2017
October 24, 2017 — Roche and Ncardia have reached a broad licensing agreement whereby Roche and its affiliate compani
BioCardia Announces 12-Month Results from TRIDENT Trial of Stem Cell Delivery System
News | Stem Cell Therapies | September 26, 2017
BioCardia Inc. recently announced 12-month results from the Phase II TRIDENT clinical trial, conducted by the...
New Jersey Researcher Exploring New Stem Cell Therapies for Heart Attacks
News | Stem Cell Therapies | August 04, 2017
In petri dishes in her campus laboratory at New Jersey Institute of Technology, Alice Lee is developing colonies of...
Overlay Init