Celyad enter into license agreement with Medisun for C-Cure in Greater China

The deal is part of the Belgian firm’s intention to expand the global footprint of C-Cure to treat ischemic heart failure.

As part of the deal, Celyad will carry out all clinical development and undertake any regulatory steps necessary for market approval in China, Hong-Kong, Taiwan and Macau (collectively Greater China).

In order to carry out these activities Medisun will provide funds of about €20m.

Initial clinical development activities are expected to take place in Hong-Kong with the potential addition of clinical sites in Celyad’s CHART-2 trial, which is expected to be started before the year end.

The deal will see Celyad receive royalties and profit sharing in exchange for the license and in addition to the benefit of the funding provided by Medisun to support clinical development.

The company noted that the royalty rates ranging from 10% to 30% are calculated on total revenues of C-Cure, and profit sharing ranging from 20 to 25% are calculated on total revenues less royalties.

The deal will last for an initial period of fifteen years, subject to earlier termination as specified in the agreement.

Celyad CEO Dr Christian Homsy said: "We are pleased to have this new license agreement in place with our local partner Medisun which give us full control over clinical developments in these territories, fully funded by our local partner.

"Pending receipt of necessary approvals, we look forward to giving access to this technology to patients in Greater China."

C-Cure is Celyad’s most advanced product candidate based on its cardiopoiesis platform and is currently under development for heart failure indications.

The company intends to release the full clinical data set for its Phase III trial (CHART-1) in Europe and Israel, in the middle of next year.