BASKING RIDGE, N.J., Feb. 17, 2016 (GLOBE NEWSWIRE) -- Caladrius Biosciences, Inc. (NASDAQ:CLBS) (“Caladrius” or the “Company”), a cell therapy company combining an industry-leading development and manufacturing services provider (PCT) with a select therapeutic product pipeline, has licensed exclusive global rights to its cell-derived dermatological technology for topical skin applications to AiVita Biomedical, Inc. (“AiVita”). This transaction supports the Company’s strategy to monetize non-core assets.
AiVita is a biotechnology company created to advance commercial and clinical stage programs utilizing curative and regenerative medicines. The company was founded in 2016 by Dr. Hans Keirstead, Caladrius’ former Chief Science Officer, and expects to manufacture and distribute a cosmetic skincare product based on the licensed technology for commercial sale beginning in the second quarter of 2016 through ALPHAEON Corporation (“ALPHAEON”). ALPHAEON, a social commerce company in lifestyle healthcare, has an established board-certified physician community of more than 10,000 members coupled with e-commerce capabilities. Caladrius will receive royalties on net sales.
“Licensing this dermatological technology to AiVita is yet another step forward in streamlining our strategic focus while monetizing non-core assets through royalty- and/or other milestone-driven transactions. In this case, the technology fits neither the type nor the scope of manufacturing that is the basis of PCT’s business,” said David J. Mazzo, Ph.D., Chief Executive Officer of Caladrius. “We look forward to ALPHAEON’s launch of this product and to sharing in its economic success.”
About AiVita Biomedical
AiVita Biomedical is advancing commercial and clinical-stage programs utilizing curative and regenerative medicines. Built upon expertise in stem cell growth and directed, high- purity differentiation, AiVita Biomedical has engineered safe, efficient and economical manufacturing systems to support the development and commercialization of curative and regenerative medicines. For more information, visit www.aivitabiomedical.com.
About ALPHAEON Corporation
ALPHAEON Corporation is a social commerce company with the goal of transforming self-pay healthcare by leveraging the power of its professional network of physician specialists to drive lifestyle healthcare advancements, and improve patient experiences and outcomes in the wellness, beauty and performance sectors. For more information, please visit www.alphaeon.com.
About Caladrius Biosciences
Caladrius Biosciences, Inc., through its wholly-owned subsidiary, PCT, is a leading development and manufacturing partner to the cell therapy industry. Caladrius works with its clients to overcome the fundamental challenges of cell therapy manufacturing by providing a wide range of innovative services including product and process development, GMP manufacturing, engineering and automation, cell and tissue processing, logistics, storage and distribution, as well as expert consulting and regulatory support. Around this core expertise, Caladrius strategically develops product candidates, which currently include an innovative therapy for type 1 diabetes based on a proprietary platform technology for immunomodulation, and holds intellectual property around other cell therapy platform technologies. For more information, visit www.caladrius.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. All statements other than statements of historical fact contained in this press release are forward-looking statements, including statements regarding our expected revenues and capital expenditures, personnel reductions, as well as the potential of CLBS03 in the treatment of recent-onset type 1 diabetes and the expected cost savings associated with the termination of the CLBS20 study. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the “Risk Factors” described in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 2, 2015, and in the Company’s other periodic filings with the SEC. The Company’s further development is highly dependent on, among other things, future medical and research developments and market acceptance, which are outside of its control.
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Source:Caladrius Biosciences, Inc.