Santen to commercialize jCyte’s jCell therapy outside US
jCyte, a clinical-stage biotech company, has entered into a licensing agreement with Santen Pharmaceuticals to develop and commercialize its jCell therapy outside the United States.
The deal is valued at up to $252 million, with jCyte receiving $50 million in upfront cash and $12 million in a convertible note offering. The company stands to make an additional $190 million in milestone payments based on regulatory approval and initial sales in Europe, Asia and Japan, according to a press release.
jCell therapy, a first-in-class investigational treatment for retinitis pigmentosa, is a minimally invasive intravitreal injection that has received FDA regenerative medicine advanced therapy designation. The therapy works by releasing neurotrophic factors that may rescue diseased retinal cells.
The therapy can be administered in an ophthalmologist’s office with topical anesthetic and takes less than 30 minutes.