CO.DON AG / Key word(s): Letter of Intent
CO.DON AG: CO.DON negotiates with Xintela on the establishment of a joint venture
09-Jul-2018 / 08:30 CET/CEST
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CO.DON AG (ISIN: DE DE000A1K0227)
CO.DON negotiates with Xintela on the establishment of a joint venture
Berlin / Teltow, 9 July 2018 – On 5 July 2018, CO.DON AG has signed a letter of intent (LOI) with Xintela AB, Lund (Sweden), by which the two companies have agreed to start negotiations regarding the establishment of a joint venture for the development and commercialization of stem cell based options for the treatment of cartilage disorders, specifically osteoarthritis, in the European and North American markets. The LOI provides that CO.DON and Xintela will each hold half of the joint venture. Xintela will provide the use of its marker and stem cell technology and its production capabilities to the joint venture. CO.DON will provide the funding for the realization of development and commercialization plans and contribute its competence in clinical development and commercialization. On the basis of a term sheet to be negotiated, CO.DON and Xintela will negotiate exclusively the contractual basis for the establishment of the joint venture until December 31, 2018.
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