Lund, Sweden, 9th of July 2018 - Xintela AB (publ) announces today that the company has signed a Letter of Intent with the leading European cell therapy company CO.DON. The parties intend to co-develop a stem cell product for the treatment of osteoarthritis, based on Xintela’s stem cell technology. CO.DON will pay an exclusivity fee for a 6-month period, during which time a joint venture agreement will be finalized.
Xintela and CO.DON intend to jointly develop stem cells for therapy of cartilage disorders including osteoarthritis in the European and North American markets. The parties have entered into discussions toward a joint venture arrangement where Xintela will provide its marker and stem cell technology and GMP production capabilities. CO.DON will provide funding and competence in clinical development and commercialization. The final structure and terms of the joint venture remain to be settled. CO.DON will pay an exclusivity fee for 6 month, during the time a possible joint venture agreement will be finalized.
”This can be a very advantageous opportunity for Xintela. The collaboration will provide all the financing for the development of a stem cell product right from the preclinical stage. This would allow Xintela to focus on product development and manufacturing stem cells for clinical trials. In addition, CO.DON would bring valuable experience in clinical trials, regulatory and marketing. By working together with a proven cell therapy leader like CO.DON we can lower the risk and shorten the time to market,” says Xintela's CEO Evy Lundgren-Åkerlund.
"The intended cooperation with Xintela offers CO.DON the opportunity to play a leading role in the development of a forward-looking technology and, together with Xintela, to contribute to the possible development of a sustainable and causal treatment for one of the biggest "widespread diseases" of our time, osteoarthritis. We would like to seize this opportunity with our partner Xintela and look forward to the following discussions very positively," says CO.DON's CEO and project manager, Ralf M. Jakobs.
CO.DON AG develops, produces and markets autologous cell therapies for the minimally-invasive repair of cartilage damage in the knee joint following traumatic or degenerative defects. Spherox is a cell therapy product that uses only the patient’s own cartilage cells (“autologous chondrocytes”). The treatment has been used in over 200 clinics to treat more than 12,000 patients. The company received EU marketing authorisation for Spherox in July 2017. The shares in CO.DON AG are listed on the Frankfurt Stock Exchange (ISIN: DE000A1K0227). Executive Board: Ralf M. Jakobs.
Xintela AB (publ)
Evy Lundgren-Åkerlund, CEO
Tel: 070-329 18 71
Medicon Village 223 81 Lund
For investor relations and media questions, please contact:
Mårten Svanberg, Laika Consulting
Tel: 070-362 70 05
Xintela develops medical products within regenerative medicine and oncology based on its proprietary marker technology, XINMARK®. Xintela uses the technology to isolate and quality assure stem cells for the treatment of the joint disease osteoarthritis. Studies on horses have shown that the stem cells are safe and that they have a therapeutic effect on the articular cartilage and the underlying bone after an injury. Xintela has recently established its own GMP-facility to produce stem cells for clinical studies. In the oncology program, XINMARK® is used for the development of an antibody-based treatment (Antibody Drug Conjugate, ADC) against specific tumors with first focus on the aggressive brain tumor glioblastoma. Positive preclinical results from cell studies and animal model have shown that the ADC treatment has a targeting and killing effect on specific tumor cells supporting further development of the company’s oncology business. Xintela is listed on Nasdaq First North Stockholm since 22 March 2016. Xintela's Certified Adviser at Nasdaq First North is Erik Penser Bank AB, +46 8-463 80 00.
This information is such information that Xintela AB (publ) is obligated to publish in compliance with the EU market abuse regulation. The information was provided, through the above contact, for publication on the 9th of July 2018, at 08.30 CET.
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