Feb. 14, 2018
(News Release) SanBio and Teijin to Terminate Licensing Agreement regarding SB623 for Stroke Treatment
SanBio, Inc. and Teijin Limited jointly announced today that they would terminate the exclusive licensing agreement signed in 2009 regarding the development and marketing of SB623 for stroke treatment in Japan.
Marketing rights to SB623 in Japan revert to SanBio, which will continue developing SB623 for chronic stroke treatment. Teijin does not intend to sell its stock holding in SanBio for the time being.
Based on the original agreement, in 2012 Teijin began consulting with Japan’s Pharmaceuticals and Medical Devices Agency (PMDA) regarding regulatory strategy, in preparation for clinical trials of SB623 for chronic stroke treatment. SanBio supported Teijin in pursuing Japan regulatory authorization for clinical trial.
Through this process, in 2016 Teijin confirmed that clinical trials using SB623 in Japan would be possible, based on which both Teijin and SanBio began preparation for clinical trials aimed at early approval. Eventually, however, the development policies of the two companies diverged, so following prudent deliberations they determined to terminate their licensing agreement as of February 14, 2018.
About SanBio, Inc. (SanBio)
SanBio is a regenerative medicine company headquartered in Tokyo, Japan, and Mountain View, California, with cell-based products in various stages of research, development, and clinical trials. Its proprietary cell-based product, SB623, is currently in a Phase 2b clinical trial for treatment of chronic motor impairments resulting from stroke with its joint development partner, Sumitomo Dainippon Pharma Co., Ltd., in the United States and Canada. SanBio is also implementing a global Phase 2 clinical trial in the United States and Japan using SB623 for treatment of motor impairment resulting from traumatic brain injury. More information about SanBio, Inc. is available at http://sanbio.com.
About the Teijin Group
Teijin (TSE: 3401) is a technology-driven global group offering advanced solutions in the areas of environmental value; safety, security and disaster mitigation; and demographic change and increased health consciousness. Its main fields of operation are high-performance fibers such as aramid, carbon fibers & composites, healthcare, films, resin & plastic processing, polyester fibers, products converting and IT. The group has some 170 companies and around 19,000 employees spread out over 20 countries worldwide. It posted consolidated sales of JPY 741.3 billion (USD 6.5 billion) and total assets of JPY 964.1 billion (USD 8.5 billion) in the fiscal year ending March 31, 2017. Please visit www.teijin.com.