NextCell enters into Memorandum of Agreement with China General Consulting & Investment Co., Ltd.
NextCell Pharma AB ("NextCell") hereby announces that the company has entered a Memorandum of Agreement with China General Consulting & Investment Co., Ltd. (”CGCI”). The purpose of the agreement is to create a base for future co-operation. The agreement includes that the parties should prioritize working together when it comes to stem cell development and China, but is otherwise without claims or obligations and does not affect NextCell financially.
NextCell has developed a patented applied for selection algorithm to ensure the selection and production of potent mesenchymal stem cells in large volumes for both research and clinical use. The purpose of the agreement with CGCI is to investigate the possibilities of conducting clinical trials in China with NextCell’s ProTrans stem cells and the long-term goal of reaching market approval for the drug candidate ProTrans in China.
The Memorandum of Agreement is to be designated as a declaration of intent without obligation. The agreement is valid until further notice.
CGCI is a Chinese subsidiary of a listed state-owned company, China General Technology Group (Genertec), focusing on collaborations with energy-saving and environmental protection industries. CGCI assists companies with knowledge and resources in consulting services, commercial services, project management and investments. Furthermore, CGCI also offers great insights into the Chinese pharmaceutical and healthcare market.
This information is the information that NextCell Pharma AB is required to disclose under the EU Market Abuse Regulation. The information was provided by the below contact person for publication on April 27th, 2018.
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For more information about NextCell Pharma AB, please contact:
Mathias Svahn, CEO
Leo Groenewegen, CFO
Phone: 08-735 5595
About NextCell Pharma AB:
Stem cells are expected to change the way how many of today's life-threatening diseases are treated. NextCell
Pharma AB develops ProTrans, a drug candidate consisting of stem cells for the primary treatment of autoimmuneand inflammatory diseases as well as for use in kidney transplants. ProTrans consists of selected stem cells derived from the umbilical cord tissue with NextCell Pharma AB's proprietary method. In addition, the company has a service called Cellaviva, Sweden's first and only IVO-approved stem cell bank for the family-saving of stem cells from umbilical cord blood and umbilical cord tissue.