Lisata Therapeutics, Inc. has entered into a material definitive agreement with Kuva Labs, Inc., a subsidiary of Mi2 Holdings, LLC, on November 30, 2024. Through this agreement, Lisata has granted Kuva an exclusive license for the development and commercialization of certepetide worldwide. Kuva is responsible for the product's research, development, and commercialization costs, while Lisata will supply certepetide for clinical and commercial use upon regulatory approval. Kuva has agreed to pay $1 million upfront, development milestones up to $1.5 million, commercial milestones up to $17.5 million, and a 5% royalty on net sales, with certain reductions applicable. Each party has rights to terminate the agreement under specific conditions.
Names for clarity: - Lisata Therapeutics, Inc. - Kuva Labs, Inc. - Mi2 Holdings, LLC - Sanford Burnham Prebys Medical Discovery Institute (SBP) - David J. Mazzo, PhD (President and Chief Executive Officer of Lisata Therapeutics, Inc.)