Company Name: Cynata Therapeutics
Announcement Date: 30/06/2016
Announcement Category: Contract/Partnership, Investment
Announcement Content:
Cynata Receives Investment Offer From Regience
Melbourne, Australia; 30 June 2016: Australian stem cell and regenerative medicine company, Cynata Therapeutics Ltd (ASX: CYP), announced that Regience K.K. of Japan has offered to make the initial investment of AUD$400,000 in new ordinary shares in Cynata pursuant to the previously announced agreement for the Strategic Alliance, such shares to be based on a 25% premium to the 10-day Volume Weighted Average Price (VWAP) and subject to a 12-month escrow period.The Company will fully consider the investment offer having regard to the opportunities which are currently available to the Company in Japan and ultimately what the Board considers to be in the overall best interests of the Company’s shareholders. Cynata will update the market with further announcements as appropriate.
Cynata has advised Regience of its appreciation of this interest and that it expects to respond to the offer in more detail shortly.
CONTACTS:
Dr Ross Macdonald, CEO: Tel: 0412 119343; email [email protected]
Dr Stewart Washer, Executive Chairman: Tel: 0418 288212; email [email protected]
Kirin Smith, Chief Operations Officer, Investor Contact, + 1 646-863-6519, [email protected]
Sean Leous, Chief Communications Officer, Media Contact, +1 646-863-8998, [email protected]
Dean Felton, Monsoon Communications, Australia Media Contact, 0411 698 499, [email protected]
About Cynata Therapeutics (ASX: CYP)
Cynata Therapeutics Limited (ASX: CYP) is an Australian stem cell and regenerative medicine company that is developing a therapeutic stem cell platform technology, Cymerus™, originating from the University of Wisconsin-Madison, a world leader in stem cell research. The proprietary Cymerus™ technology addresses a critical shortcoming in existing methods of production of mesenchymal stem cells (MSCs) for therapeutic use, which is the ability to achieve economic manufacture at commercial scale. Cymerus™ utilises induced pluripotent stem cells (iPSCs) to produce a particular type of MSC precursor, called a mesenchymoangioblast (MCA). The Cymerus™ platform provides a source of MSCs that is independent of donor limitations and provides an “off-the-shelf” stem cell platform for therapeutic product use, with a pharmaceutical product business model and economies of scale. This has the potential to create a new standard in the emergent arena of stem cell therapeutics and provides both a unique differentiator and an important competitive position.
Announcement URL: http://cynata.com/wp-content/uploads/2016/06/16.06.30.Cynata-Receives-Investment-Offer-from-Regience.pdf
About Cynata Therapeutics:
Cynata Therapeutics Limited is an Australian stem cell and regenerative medicine company that is developing a therapeutic stem cell platform technology, Cymerus™, using discoveries made at the University of Wisconsin-Madison (UWM). UWM is a world-renowned leader in stem cell research, in particular for the work by Professor James Thomson's group, which included the first successful isolation of human embryonic stem cells in 1998, and the derivation of induced pluripotent stem cells (iPSCs) from human adult cells in 2007. Professor Igor Slukvin, a co-founder of Cynata, was also a member of the team that conducted UWM's pioneering iPSC research.
Cynata's Cymerus™ platform stem cell technology is based upon extremely important and versatile stem cells known as mesenchymoangioblasts (MCAs). MCAs are a precursor of mesenchymal stem (or stromal) cells (MSCs) which are at the forefront of a new generation of treatments being investigated for such devastating diseases as osteoarthritis, Crohn’s disease and heart disease. Cynata’s proprietary technology utilizes iPSCs originating from an adult donor as the starting material for generating MCAs and in turn for manufacturing the MSC therapeutic product.
Go to Company Profile for: Cynata Therapeutics
Announcement Contact: [email protected]
