DGAP-News: CO.DON AG and GENERIUM JSC sign term sheet to out-license co.don chondrosphere(R) to Russia
CO.DON AG and GENERIUM JSC sign term sheet to out-license co.don chondrosphere(R) to Russia.
Berlin / Teltow, 25 February 2019 - CO.DON AG and GENERIUM JSC have agreed to out-license the matrix-associated product co.don chondrosphere(R) for the Russian market and have signed a corresponding term sheet. GENERIUM JSC is a leading biopharmaceutical company in Russia that focuses on advanced therapy medicinal products (ATMPs) and various recombinant medicines. The planned licensing agreement will cover out-licensing, as well as advisory services, training and knowledge transfer by qualified employees of CO.DON AG.
The licensing agreement is subject to the approval of the Supervisory Board, which is planned for late May 2019.
Ralf Jakobs, CEO of CO.DON AG: "Since we obtained marketing authorisation, our European expansion strategy has been defined by two main pillars: whereas in the European Union we are continuing to expand our market presence with the EU-authorised product in line with our strategy, in other markets, now starting with the Russian market, we consider licensing to be more sensible and economically effective for CO.DON AG. And in GENERIUM JSC we have found an experienced partner that is established in the Russian market. We are looking forward to working with our partner in the period ahead."