RenovaCare, Inc. and StemCell Systems GmbH Enter into Strategic Research and Development Agreement
July 08, 2020 at 02:29 am IST
Share
Effective July 1, 2020, RenovaCare, Inc. (the "Company") and StemCell Systems GmbH ("SCS") entered into a Strategic Research and Development Agreement (the "Strategic Agreement") having an initial term of three years with successive one-year extensions unless earlier terminated. As stated in the Strategic Agreement its purpose is to: (i)enhance the Company's Technologies, (ii)potentially develop additional products based on such technologies, (iii) provide access to the consultation services of Dr. J rg C. Gerlach, M.D and Mr. Thomas Bold,(iv) establish the "RenovaCare R&D Innovation Center at StemCell Systems" and (v) address, and perform research and engineering services to satisfy the Company's regulatory requirements and business objectives. SCS will perform the services to be performed by it as more described in each Statement of Work in accordance with the terms and conditions set forth in each such Statement of Work or as otherwise provided in the Strategic Agreement. The Company acknowledges that the Services do not include, and that it is responsible for, regulatory approval, licensing and use of products, including reimbursement. SCS will deliver to Company the deliverables, designs, modules, software, products, documentation and other materials specified in the Statement of Work in accordance with the delivery schedule and other terms and conditions set forth in the Statement of Work to the Company's satisfaction.
RenovaCare, Inc. is a clinical-stage biotechnology company. The Company is focused on developing autologous (self-donated) stem cell therapies for the regeneration of human organs. The Company through its wholly owned subsidiary, RenovaCare Sciences Corp. is focusing on the research, development and commercialization of autologous (using a patientâs own cells) cellular therapies that can be used for medical and aesthetic applications. The Companyâs CellMist System is a cell isolation procedure that enzymatically renders stem cells from the patientâs own skin or other tissues. The resulting stem cell suspension is administered topically from the Companyâs novel solution sprayer device (the SkinGun) as a cell therapy for wounds including burns to facilitate healing. Its SkinGun spray device is an advanced technology, using a gentle positive-pressure air stream to spray the CellMist Solution onto wounds.