|
FinnMedi Oy and researchers working at the Regea Institute for Regenerative Medicine have signed a licence agreement concerning a solution for stem cell cultivation with Swedish company Vitrolife Sweden AB. The licence is for a solution suitable for cultivating human stem cells, which enables the cultivation of stem cells for clinical use without risk of animal-based contamination. With the licence agreement, Vitrolife gains the global rights to develop, manufacture and market the solution for both research and clinical use.
The stem cell cultivation solution is one of the first formulations applicable for clinical use which does not contain animal-based substances. The solution is utilized in the development and manufacture of stem cell therapies suitable for patient use. The licence agreement covers the right to use the cultivating solution’s patented formula. “The stem cell market is growing rapidly. A contributing factor is the removal of limitations to the federal funding of research on new stem cell lines by US President Obama,” explains Anna Mårtensson, who directs the stem cell business area at Vitrolife. The estimated value of the stem cell market stood at USD 250 million in 2008. Growth is estimated at 12%. According to Mårtensson, Vitrolife will be focusing particularly on the market for the clinical use of stem cells. Licensing requires persistence, expertise and good networks The cooperation between FinnMedi Oy and Regea in the commercialization of the cultivating solution began in 2007. The aim was to sell an exclusive licence for the formulation, its manufacturing method and marketing and sales rights to a single cooperation partner capable of independent manufacture, acquiring the marketing authorization required for clinical use and performing global marketing and sales operations. Also desirable was the compatibility of the developed product with the cooperation partner’s product portfolio. FinnMedi Oy, a provider of licensing, business development and clinical research services in life sciences, managed the various stages of commercialization in close collaboration with Academy Research Fellow Heli Skottman. FinnMedi funded the patenting stage, commissioned assessments related to commercial potential, had charge of marketing, contacts, negotiations and meetings with potential utilizer companies, compiled the licensing agreements with a law firm and looked after the inventors’ interest during the commercialization process. “It has been a long process and some patience has been required. As a company, we too carried a risk through patenting costs. Following a case-specific strategy, we shoulder the risk in licensing projects when we consider it necessary,” explains Sales Director Reijo Itkonen from FinnMedi Oy, who was in charge of the innovation’s commercialization. “FinnMedi Oy played a very important role in the process. Researchers conduct research and they don’t usually have the time, contacts or expertise to seek parties to exploit their inventions. In such cases it’s natural to use an external agent. Without FinnMedi’s input, the agreement for the product’s licensing and market entry would never have been made, and the results achieved wouldn’t have been possible,” Heli Skottman says. “Competition in the stem cell market is tough. We are now among the first licensers, which puts us in a good market position. It’s possible to realize new innovations even with small resources. And because there weren’t utilizers with sufficient potential in Finland, we sought candidates on the international market. The Swedish company Vitrolife met the requirements best. The company conducts high-quality work, they have good personal customer contacts and they’re not engaged in mass production.” The cultivation solution is the first product that has been sold from Regea based on a licence agreement. Among others, the development of the solution has been funded by Tekes, the Finnish Funding Agency for Technology and Innovation. Further information: Reijo Itkonen, Sales Director, FinnMedi Oy, tel. +358 40 503 5252, reijo.itkonen(at)finnmedi.com Heli Skottman, Academy Research Fellow, Regea Institute for Regenerative Medicine, tel. +358 50 396 9645, heli.skottman(at)regea.fi
|
