Innovative Cellular in $14 Million Deal for China Rights to Vericel Cell Therapy Products

Innovative Cellular Therapeutics, a Shanghai biotech developing CAR-T cell therapies, in-licensed greater China rights to four cell therapy products from Boston's Vericel. The portfolio consists of two knee treatments, artificial skin to treat severe burns and a heart repair product. ICT will pay $6 million upfront and agreed to another $8 million in milestones, plus royalties. ICT, which will be responsible for the registration of all the products, will receive warrants for $5 million of Vericel stock at current prices. More details.... Stock Symbol: (NSDQ: VCEL) Share this with colleagues: // //