Vancouver biotech RepliCel Life Sciences Inc. (OTCBB:REPCF, CNSX:RP) has completed a collaboration and technology development transfer agreement with Japanese cosmetics organization Shiseido Company.
Under the agreement – which relates to the transfer of RepliCel’s RCH-01 hair-regeneration technology, Shiseido will now pay RepliCel an upfront fee of ¥400 million (approximately CAD$4.2 million) and will pay sales milestones amounts of up to ¥3 billion (approximately CAD$31.5 million).
“We look forward to working with Shiseido with its deep expertise in hair research,” said RepliCel chief medical officer Dr. Rolf Hoffmann. “We anticipate that our collaborative efforts will support the continued improvement of our technology.
“This licence represents the first of many development and collaboration agreements we intend to undertake around our broader platform of addressing cellular deficits in diseases such as pattern baldness and tendinosis.”
The agreement licenses Shiseido to use RepliCel’s RCH-01 hair-regeneration technology in Japan, China, South Korea, Taiwan and throughout the ASEAN countries.
A 2010 Peking University People’s Hospital study estimated that 21% of adult males and 6% of females in China are affected by hormone-related hair loss.
