[Edaily Reporter Park Sun-Yeop ] Kangstem Biotech ( KANGSTEM BIOTECH CO., LTD.(217730)) announced on the 15th that it has signed a technology licensing agreement with the Seoul National University Industry-Academic Cooperation Foundation regarding a “method for manufacturing integrated 3D skin assembloids combining immune and vascular components.”
Through this agreement, KANGSTEM BIOTECH CO., LTD. will acquire the technology—developed and owned by Seoul National University, for which a patent application has been filed. The contract term runs from the date of signing until the later of the two dates: the end of the contract period or the expiration of the relevant patent.
The specific contract amount was not disclosed due to business confidentiality. However, the contract amount represents more than 10% of KANGSTEM BIOTECH CO., LTD.’s consolidated revenue of 3,572,460,000 won for last year.
The technology fees consist of an upfront payment and milestone-based performance fees. KANGSTEM BIOTECH CO., LTD. will pay milestone fees upon fulfillment of contractual conditions, such as the initial launch of commercialization and the first patent registration in South Korea, the United States, Europe, Japan, and China.
In the future, if the technology is transferred to another company, Kangstem Biotech will pay a certain percentage of the amount received in excess of the technology fees paid to Seoul National University as a sub-royalty.
This agreement is a conditional contract, meaning the actual payment amount and timing will vary depending on outcomes such as clinical trials, product approval, and commercialization. The contract may be terminated in the event of regulatory authorities halting R&D, failure to obtain product approval, or a breach of contractual obligations.
However, even if the contract is terminated, the technology fees already received by the Seoul National University Industry-Academic Cooperation Foundation will not be refunded.
Through this agreement, KANGSTEM BIOTECH CO., LTD. will acquire the technology—developed and owned by Seoul National University, for which a patent application has been filed. The contract term runs from the date of signing until the later of the two dates: the end of the contract period or the expiration of the relevant patent.
The specific contract amount was not disclosed due to business confidentiality. However, the contract amount represents more than 10% of KANGSTEM BIOTECH CO., LTD.’s consolidated revenue of 3,572,460,000 won for last year.
The technology fees consist of an upfront payment and milestone-based performance fees. KANGSTEM BIOTECH CO., LTD. will pay milestone fees upon fulfillment of contractual conditions, such as the initial launch of commercialization and the first patent registration in South Korea, the United States, Europe, Japan, and China.
In the future, if the technology is transferred to another company, Kangstem Biotech will pay a certain percentage of the amount received in excess of the technology fees paid to Seoul National University as a sub-royalty.
This agreement is a conditional contract, meaning the actual payment amount and timing will vary depending on outcomes such as clinical trials, product approval, and commercialization. The contract may be terminated in the event of regulatory authorities halting R&D, failure to obtain product approval, or a breach of contractual obligations.
However, even if the contract is terminated, the technology fees already received by the Seoul National University Industry-Academic Cooperation Foundation will not be refunded.
