Reported 12 months ago
Hosong Biotech, a rising regenerative medical company, recently achieved a milestone by signing a 'Mesenchymal Stem Cell Drug-Production Technology' licensing agreement with HitGen. HitGen will provide umbilical cord mesenchymal stem cell cultivation and exosome production technology to Hosong Biotech for developing exosomes derived from umbilical cord mesenchymal stem cells. The agreement involves a $1.8 million signing fee for HitGen, followed by additional milestone and development progress payments totaling $4.2 million, with a total contract value reaching $6 million. This marks Hosong's first technology licensing agreement, signaling significant growth potential in the exosome market alongside its mature CDMO/CMO business. Hosong Biotech, known for functional healthcare product development, is expanding into biopharmaceutical research, focusing on exosome applications for wound healing and medical aesthetics.
Source: YAHOO