Instinct Bio Technical Company Holdings Inc. (Nasdaq: BIOT) announced today that its subsidiaries have entered into a Memorandum of Agreement with Invitrx Therapeutics, Inc., establishing a strategic framework to advance two proposed workstreams: the manufacture and sale of GENREVER cosmetic products in the United States and the potential supply of concentrated exosomes and conditioned media for clinics and an in-hospital cell processing center and laboratory in Indonesia.
The collaboration builds upon a commercial relationship under which Instinct Bio has sourced certain principal raw materials from INVITRX for approximately six years for use in certain of the Company's products under its quality assurance and quality control processes. The Company believes this existing commercial relationship may facilitate coordination between the parties as they evaluate the proposed collaboration.
Under the proposed collaboration, Instinct Bio intends to license the GENREVER trademark, Artisans Production will contribute its proprietary formulations and raw materials, and INVITRX is expected to manufacture GENREVER products at its U.S. GMP manufacturing facility. The parties intend to position GENREVER as a premium Japanese cosmetics brand for the U.S. market, subject to applicable regulatory requirements.
The parties also intend to collaborate on initiatives supporting proposed clinics and an in-hospital cell processing center and laboratory in Indonesia. Subject to applicable regulatory requirements, INVITRX is expected to supply concentrated exosomes and conditioned media, while the parties evaluate opportunities to establish a localized regenerative medicine platform in one of Asia's rapidly growing healthcare markets.
The parties intend to negotiate definitive commercial agreements covering manufacturing, supply, commercialization and other operating arrangements while progressing the regulatory assessments required for each proposed initiative.
Tomoki Nagano, Chief Executive Officer of Instinct Bio, stated: 'This collaboration represents an important step in our strategy to expand Instinct Bio’s international platform. By bringing together the GENREVER brand, Artisans Production’s proprietary formulations and INVITRX’s U.S. GMP manufacturing capabilities, we believe we are creating a strong foundation for future growth in both the United States and Southeast Asia. We are excited about the opportunities ahead and look forward to working closely with our partners as we advance these initiatives.'
For more information, visit the Company’s website at https://instinct-biot.com/. View the original release on www.newmediawire.com.
