CollPlant (NASDAQ:CLGN) and United Therapeutics (NASDAQ:UTHR) have entered into a license, development and commercialization agreement for 3D bioprinted lung transplants.
Under terms of the agreement, CollPlant granted United Therapeutics, an exclusive license to its technology for the production and use of rhCollagen-based BioInk for 3D bioprinted lung transplants throughout the universe.
In addition to the initial focus on lung manufacturing, the agreement grants United Therapeutics an option, to expand the field of its license to add up to three additional organs.
Under financial terms of the agreement, once effective, CollPlant will receive an upfront payment of $5M and milestone payments of up to $15M. The agreement also provides for option exercise payments of up to $9M, and additional developmental milestone payments of up to $15M if United Therapeutics elects to develop manufactured organs other than lungs using CollPlant’s technology..
CollPlant will also be entitled to receive royalties on sales as well as reimbursement for certain costs.
CLGN up 37% premarket.