Seiya Tabuchi/iStock via Getty Images Skincare product maker Elevai Labs ( NASDAQ: ELAB ) announced Friday that the company and cancer drug developer INmune Bio ( NASDAQ: INMB ) amended a licensing deal reached early this year. According to a regulatory filing, the amendment relates to the deal that handed Elevai ( ELAB ) the global licensing rights to use INmune's ( INMB ) "EMx" manufacturing technology for ten years. While Elevai ( ELAB ) didn't specify its financial implications, the company said that the amendment covered, among other things, a tech transfer fee payable to INmune ( INMB ).
"EMx" technology is designed to efficiently produce current Good Manufacturing Practice ("cGMP")-grade human umbilical cord-derived mesenchymal stromal cells used to create topical cosmetic products. Under the initial agreement, Elevai ( ELAB ) was expected to make a final tech transfer fee within two years in addition to an early deposit due within six months. More on INmune Bio INmune Bio: Promising Phase 2 Trials For Alzheimer's Drug XPro INmune Bio: Still A Bargain If Their Alzheimer's Program Reaches Its Inflection INmune Bio, Inc.
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