Novellus Therapeutics Exclusively Licenses Induced Mesenchymal Stem Cells (iMSCs) to NoveCite for COVID-19 Related Acute Respiratory Distress Syndrome (ARDS) and Other Acute Respiratory Condi
CAMBRIDGE, Mass.,?Oct. 13, 2020?/PRNewswire/ --?Novellus Therapeutics ("Novellus"), an engineered cellular medicines company, announced today that it has licensed its induced mesenchymal stem cells (iMSCs) on a worldwide basis to NoveCite, Inc., a newly formed subsidiary of Citius Pharmaceuticals, Inc. ("Citius") (Nasdaq:?CTXR), a specialty pharmaceutical company focused on developing and commercializing critical care drug products. NoveCite will develop and commercialize Novellus's iMSCs to treat acute respiratory conditions with a near term focus on Acute Respiratory Distress Syndrome ("ARDS") associated with COVID-19. Novellus is a 25% equity holder in NoveCite. Novellus received a?$5 million?upfront payment, and is eligible to receive up to?$51 million?in development milestone payments, as well as low double-digit royalties.
iMSCs are a next-generation cell therapy product created from induced pluripotent stem cells (iPSCs) with the following advantages:
Novellus is a pre-clinical stage biotechnology company developing engineered cellular medicines using its patented non-immunogenic mRNA, high-specificity gene editing, mutation-free & footprint-free cell reprogramming and serum-insensitive mRNA lipid delivery technologies. Novellus is privately held and is headquartered in?Cambridge, MA.?For more information, please visit?www.novellustx.com. About NoveCite, Inc.
NoveCite, Inc. is a newly formed subsidiary of Citius Pharmaceuticals, a late-stage specialty pharmaceutical company dedicated to the development and commercialization of critical care products, with a focus on anti-infectives and cancer care. For more information, please visit?www.citiuspharma.com. Contact:?john.westman@novellustx.com SOURCE Novellus Therapeutics
- Created using a patented non-immunogenic mRNA cell reprogramming process
- Derived from a single donor and produced from a clonal, perpetual master cell bank
- Streamlined manufacturing process enables near-unlimited supply
- Superior immunomodulatory protein secretion compared to donor-derived MSCs
Novellus is a pre-clinical stage biotechnology company developing engineered cellular medicines using its patented non-immunogenic mRNA, high-specificity gene editing, mutation-free & footprint-free cell reprogramming and serum-insensitive mRNA lipid delivery technologies. Novellus is privately held and is headquartered in?Cambridge, MA.?For more information, please visit?www.novellustx.com. About NoveCite, Inc.
NoveCite, Inc. is a newly formed subsidiary of Citius Pharmaceuticals, a late-stage specialty pharmaceutical company dedicated to the development and commercialization of critical care products, with a focus on anti-infectives and cancer care. For more information, please visit?www.citiuspharma.com. Contact:?john.westman@novellustx.com SOURCE Novellus Therapeutics