Singapore, June 10, 2008: South Korea’s RNL Bio has signed a licensing agreement with a Japanese biotech company Seems, Inc, for RNL’s stem cell technology.

 

Under the terms of the agreement, Seems, Inc. will pay $Six million up front with 5% royalties of related sales revenue for the right to use RNL’s stem cell technology to establish stem cell banks and to sell the stem cell therapeutics developed by RNL Bio, in Japan.

 

“This deal is the first technology export to Japan from the Korean stem cell industry. It is also significant in that a developed country like Japan recognizes RNL Bio’s development of their stem cell technology,” the Korean company said.

 

The need for regenerative medicine is expected to grow in Japan’s aging population. RNL Bio has established ‘Biostar’, the first and largest stem cell bank in Korea, preserving members’ stem cells from fat, umbilical cord or placenta. RNL is also developing stem cell therapeutics in phase I or I/II clinical trials for Buerger’s Disease and osteoarthritis using its proprietary technology for the isolation and expansion of stem cells.