RepliCel Terminates License Agreement with Shiseido

Rhea-AI Summary

RepliCel Life Sciences has announced the termination of its license agreement with Shiseido due to an ongoing dispute over a cell therapy technology license for treating hair loss. This legal decision is part of RepliCel's arbitration process with Shiseido under the International Center for Dispute Resolution. The company retains rights to its RCH-01 product outside Asia and continues product development with strategic partners in the U.S. and China. RepliCel's therapies have been tested on over 100 patients across various countries.

Positive

• RepliCel retains worldwide rights to RCH-01 after terminating the Shiseido agreement.
• Company has tested its therapies on over 100 patients in four countries, indicating progress in product development.
• Strong investment from strategic partners in the U.S., China, and Japan supports ongoing clinical testing.

Negative

• Termination of the license agreement may lead to lost revenue opportunities in Asia.
• Ongoing arbitration could result in prolonged legal disputes and uncertainty.

VANCOUVER, BC / ACCESSWIRE / December 21, 2021 / RepliCel Life Sciences Inc. (OTC PINK:REPCF)(TSXV:RP)(FSE:P6P2) ("RepliCel" or the "Company"), a company developing next-generation technologies in aesthetics and orthopedics, announced today that the dispute between Shiseido and RepliCel has led to the Company electing to terminate the license agreement with Shiseido. The Company's decision is a legal step in its pursuit of a resolution of its disagreement with Shiseido that is the subject of ongoing arbitration proceedings under the aegis of the International Center for Dispute Resolution (ICDR).

The dispute between Shiseido and RepliCel is related to a license for Asia to RepliCel's cell therapy technology for androgenetic alopecia, which is the leading cause of male and female pattern hair loss. Legal counsel for RepliCel filed a Notice of Arbitration that was announced in a Company press release on October 18, 2021.

About RepliCel Life Sciences

RepliCel is a regenerative medicine company focused on developing cell therapies for aesthetic and orthopedic conditions affecting what the Company believes is approximately one in three people in industrialized nations, including aging/sun-damaged skin, pattern baldness, and chronic tendon degeneration. These conditions, often associated with aging, are caused by a deficit of healthy cells required for normal tissue healing and function. These cell therapy product candidates are based on RepliCel's innovative technology, utilizing cell populations isolated from a patient's healthy hair follicles.

The Company's product pipeline is comprised of RCT-01 for tendon repair, RCS-01 for skin rejuvenation, and RCH-01 for hair restoration. RCH-01 was exclusively licensed in Asia to Shiseido Company Limited (an agreement which is currently under dispute). RepliCel maintains the unfettered rights to RCH-01 for the rest of the world. RCT-01 and RCS-01 are exclusively licensed in Greater China to YOFOTO (China) Health Company. RepliCel and YOFOTO are currently co-developing these products in China. RepliCel maintains the rights to these products outside of Greater China.

RepliCel has also developed a proprietary injection device, RCI-02, and related consumables, which is expected to improve the administration of its cell therapy products and certain other injectables. YOFOTO has exclusively licensed the commercial rights for the RCI-02 device and consumables in Greater China for dermatology applications and is expected to first launch the product in Hong Kong upon it being approved for market launch in either the United States or Europe. Please visit www.replicel.com for additional information.

Notable Facts:

• RepliCel's three cell therapy products have now been tested in over 100 patients in four countries on three continents.
• RepliCel has key strategic partners in the United States, China, and Japan each of which are now investing heavily in the further clinical testing and development of RepliCel's products for their markets. Data from each of the clinical programs will strengthen the product development initiatives for RepliCel and its other partners worldwide.

For more information, please contact:
Lee Buckler, CEO and President
604-248-8693
info@replicel.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: RepliCel Life Sciences, Inc.

View source version on accesswire.com:
https://www.accesswire.com/678894/RepliCel-Terminates-License-Agreement-with-Shiseido

FAQ

What happened with RepliCel and Shiseido on December 21, 2021?

RepliCel terminated its license agreement with Shiseido due to a dispute regarding a cell therapy technology for hair loss.

What are the implications of RepliCel terminating its agreement with Shiseido?

This termination means RepliCel retains rights to its RCH-01 product globally, but it may also lead to lost revenue in Asia.

How many patients have been involved in RepliCel's clinical tests?

RepliCel's therapies have been tested in over 100 patients across four countries.

What is RepliCel's focus in the medical field?

RepliCel specializes in regenerative medicine, particularly in developing cell therapies for aesthetic and orthopedic conditions.