GC Cell Inks First Licensing Agreement for Immuncell-LC® With Rivaara Immune Private Limited in India
YONGIN, South Korea & MUMBAI, India--(BUSINESS WIRE)--Jan 3, 2022--
GC Cell (KOSDAQ:144510) and Rivaara Immune Private Limited today announced that they have entered into an exclusive licensing agreement, pursuant to which Rivaara Immune has agreed to develop and commercialize Immuncell-LC ® in India, Sri Lanka, and Bangladeshi. Developed by GC Cell, Immuncell-LC ® is a patient-derived autologous T-cell immunotherapy for liver cancer, which was approved by the Korean MFDS back in 2007.
Under the terms of the agreement, Rivaara Immune has obtained the exclusive right to develop and commercialize Immuncell-LC ® within India for liver cancer. In return, GC Cell is entitled to receive an undisclosed upfront payment, as well as payments for the achievement of commercial milestones, with royalties based upon the sales.
In addition, GC Cell will also receive a partial stake of Rivaara Immune and exclusive rights to supply media which is essential for the production of Immuncell-LC ®.
The number of cancer patients in India is more than 1.3 million, about 6 times that of Korea, and India’s liver cancer market is 2.3 times that of Korea’s. Notably, 5-year liver cancer survival rate is 4%, which is very low compared to 37% of Korea, so new treatments are urgently needed.
“Immuncell-LC ® ’s overseas expansion is based on its domestic success, pushing for technology transfer by country, and signing contract with Rivaara Immune in India is the first outcome,” said Dae-woo Park, CEO of GC Cell. “Both companies will cooperate in a win-win strategic partnership, and are also closely discussing with a number of partners in China and other countries in the Middle East.”
“Rivaara Immune is pleased to partner with GC Cell, a leader in Immune Cell Therapy in Korea. With this partnership we will be among the first, to bring to the Indian market, customized solutions to cater to the unmet needs of the liver cancer sufferers,” said Syd Daftary, Director of Rivaara Immune.
About Immuncell-LC ®
Immuncell-LC ® is a customized anti-cancer drug that is made from a patient’s blood. Professionals extract a sample of a patient’s T-cells from the blood and genetically modify it into a robust immune cell that has maximized anticancer functions and is incubated for about two weeks before they infuse it into the patient. Immuncell-LC ® received approval for the liver cancer immunotherapy from the Korean MFDS in 2007. It also received FDA Orphan Drug Designation for the Treatment of liver cancer, brain tumor, and pancreatic cancer. More than 7800 individuals have been treated with Immuncell-LC ® which recorded the highest selling of anti-cancer immune cell therapy in Korea.
About GC Cell
GC Cell is an integrated corporation created through the recent merger of Green Cross Labcell and Green Cross Cell, and is focusing on the development and production of treatments using immune cells and stem cells. In particular, it has a variety of pipelines for autologous and allogeneic cell therapies. It also has global competitiveness based on platform technology and experience throughout the entire period from the initial research stage to the commercialization stage.
About Rivaara Immune Private Limited
Rivaara Immune is a part of the Bharat Daftary group of healthcare companies and aims to be the leading and trusted provider of specialised cell therapy/Immunotherapy for patients with cancers and offer them an improved quality of life.
This press release may contain forward-looking statements, which express the current beliefs and expectations of GC Cell’s management. Such statements do not represent any guarantee by GC Cell or its management of future performance and involve known and unknown risks, uncertainties and other factors. GC Cell undertakes no obligation to update or revise any forward-looking statement contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule.
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KEYWORD: BANGLADESH INDIA SRI LANKA NORTH AMERICA ASIA PACIFIC SOUTH KOREA
INDUSTRY KEYWORD: BIOTECHNOLOGY HEALTH STEM CELLS PHARMACEUTICAL ONCOLOGY
SOURCE: GC Cell
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PUB: 01/03/2022 08:55 PM/DISC: 01/03/2022 08:56 PM