Date: July 5, 2024
Company Name: HeXun Biosciences Co., Ltd.
Subject: Signing of an Exclusive Technology Licensing Agreement between HeXun Biosciences and JY BioMedical Co., Ltd.
Spokesperson: Liao Yu-Pei
Date of Event: July 5, 2024
Contracting Party: JY BioMedical Co., Ltd. (hereinafter referred to as “JY BioMedical”)
Relationship with Company: None
Contract Duration: Starting from June 28, 2024
HeXun Biosciences and JY BioMedical have signed an exclusive licensing agreement for “Human-Derived Umbilical Cord Mesenchymal Stem Cell Drug Production Technology.” Following the licensing of related production technology for human umbilical cord mesenchymal stem cells (UC-MSCs) to JY BioMedical, both parties will collaborate to develop specific MSC-derived exosomes using specialized techniques and data. These products will be utilized in the development of medical devices, new drugs, cosmetics, and various other products, with applications in wound healing and other therapeutic areas.
License Fee: Upon delivering the “Human Umbilical Cord Mesenchymal Stem Cell Process and Clinical Application Planning Report,” HeXun Biosciences will receive USD 1.8 million. Subsequently, upon the delivery of research and development results meeting each phase’s conditions, HeXun Biosciences will receive a total licensing fee of USD 4.2 million.
According to the exclusive licensing agreement, HeXun Biosciences will receive a fixed percentage of total sales revenue as development profit for 15 years starting from the launch date of any jointly developed product.
As per the exclusive licensing agreement, JY BioMedical and HeXun Biosciences will sign additional agreements for product development and manufacturing services, contracting HeXun Biosciences to develop and produce specific MSC-derived exosome products based on the specialized techniques and data mentioned above.
Restrictions: HeXun Biosciences shall not use the licensed technology to independently or allow third parties to develop products with the same or similar indications, nor products related to cell and exosome products.
Commitments: None
Other Important Terms: None
Impact on Financial and Business Operations: The agreement is expected to contribute to HeXun Biosciences’ future revenue and positively impact the company’s financial and business operations.
Specific Purpose: To commercialize research and development results and generate revenue.
Other Information:
On June 28, 2024, the company’s board of directors authorized the chairman to sign the contract, and the related signing procedures were completed on the same day.
The development of new drugs involves a long timeline and significant investment, with no guaranteed success. These factors may pose risks to investors, who are advised to make careful judgments and investments to protect their interests.
Based on the contract signed with JY BioMedical, the main content under "Licensing Fee" contains an error regarding the signing fee, and a correction is being issued. On June 28, 2024, the company annouced the signing of an "Exlusive Technology Licensing Agreement Signed between HeXun Biosciences and JY BioMedical." The correction pertains to "Licensing Fee," specifically section regarding the licensing fee.
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