Healios K.K. announced that it has entered into a Joint Research Agreement with AND medical group to utilize Healios owned technology and culture supernatant. Outline of the Agreement. The purpose of the Agreement is that Healios will provide regenerative medicine technology and raw materials to AND medical for use in the development of a new therapy.

Upon entering of the agreement, Healios will receive JPY 60 million as an upfront payment. Subsequently, the company will receive milestone payments based on the progress of the research, which together with the upfront payment will total JPY 180 million. After the manufacturing method and system for the raw materials have been established and the objectives of the Agreement have been achieved, Healios expects to enter into an agreement to supply culture supernatant to AND Medical on an ongoing basis.