Pluristem and Stem Cell Innovations have inked a stock swap and licensing deal. The licensing agreement provides Stem Cell with certain rights to Pluristem's PLX I product and 3-D stem cell expansion capability, in exchange for an upfront fee of 23 million shares of Stem Cell's common stock, milestone payments and royalties.
Stem Cell CEO Dr. James Kelly commented, "We are excited with Pluristem's 3-D stem cells expansion capability for use in conjunction with our PluriCell technology. We believe this collaboration will improve our product development capabilities, leading to better solutions for both in vivo and in vitro applications and improve our shareholder value."
- here's the release on the licensing deal