Rockville, Md.-based stem cell company, Neuralstem, Inc. (CUR) said on February 20 that Korean conglomerate, CJ CheilJedang Corporation (KSE: CJ CheilJedang) has purchased an option to negotiate for the exclusive license to Neuralstem’s stem cell-products and technology after the company completes a successful human clinical trial.
As part of the agreement, CJ has purchased $2.5 million worth of Neuralstem stock at $4.063 per share.
The terms of the license will be negotiated after the first successful human trial, the company said.
CJ exclusive markets will include: Korea, Indonesia, Philippines, Malaysia, Singapore and Vietnam, with a first right of negotiation for China and Japan.
Neuralstem said it is planning to begin human clinical trials this year with its stem cell products.
CJ CheilJedang Corporation is a subsidiary company of CJ Group whose core businesses consists of food and food services, biopharma, entertainment media, and home shopping and logistics.
Neuralstem’s patented technology enables production of neural stem cells of the human brain and spinal cord in commercial quantities, and the ability to control the differentiation of these cells into mature, physiologically relevant human neurons and glia.
Major central nervous system diseases targeted by the company with research programs currently underway include: ischemic paraplegia, traumatic spinal cord injury, and ALS.
Contact: http://www.neuralstem.com
Contact: http://www.CJ.net
