TORRANCE, Calif., June 17, 2016 /PRNewswire/ -- Emmaus Medical, a subsidiary of Emmaus Life Sciences, Inc., a biopharmaceutical company engaged in the discovery, development and commercialization of innovative treatments and therapies for rare and orphan diseases, today announced it has signed a licensing agreement with Tokyo-based regenerative medicine company, CellSeed, to commercialize Epithelial Cell Sheet Corneal Regeneration technology for Limbal Stem Cell Deficiency (LSCD) in the United States.
The regenerative medicine technology treats various diseases involving human epithelial components, of which LSCD is a target disease. LSCD has been recognized as a major cause, either primary or secondary, of significant visual loss and blindness in many common corneal disorders.
"We are pleased to renew our relationship with CellSeed, building upon our prior regenerative medicine research for this important disease," said Yutaka Niihara, M.D., MPH, Chairman and CEO of Emmaus. "While Emmaus continues to focus on sickle cell disease and the preparation of a new drug application, the agreement with CellSeed fits well within our area of expertise and represents an important diversification for our company over the long term."
The new agreement extends Emmaus' existing relationship with CellSeed, allowing the company to continue to conduct R&D activities of the epithelial cell sheet for the treatment of LSCD. Emmaus will pay a royalty to CellSeed upon commercialization.
About CellSeed Inc.
CellSeed Inc. is a leading company within regenerative medicine. Employing the "cell sheet engineering" technology developed by Prof. Teruo Okano of the Tokyo Women's Medical University, CellSeed aims to develop regenerative medicine products that can lead to fundamental changes in therapies of severe medical conditions worldwide. The company was founded in 2001 and is listed on JASDAQ Stock Exchange Group in Japan since 2010.
About Emmaus Life Sciences
Emmaus Life Sciences is engaged in the discovery, development and commercialization of innovative treatments and therapies for rare diseases. The Company's research on sickle cell disease, its lead candidate, was initiated by Dr. Niihara at the Los Angeles Biomedical Research Institute at Harbor-UCLA Medical Center. Emmaus' sickle cell therapy has Orphan Drug Designation in the U.S. and Europe and Fast Track designation from the FDA. The Company has completed a 230 patient Phase 3 trial and is preparing its New Drug Application. For more information, please visit www.emmauslifesciences.com.
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, regarding the research, development and potential commercialization of pharmaceutical products. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. Additional risks and uncertainties are described in reports filed by Emmaus Life Sciences, Inc. with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Emmaus is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise.
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SOURCE Emmaus Medical, Inc.