Elevai Labs signs licensing agreement with INmune Bio
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- January 16, 2024
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Elevai Labs ( NASDAQ: ELAB ) said it has signed an exclusive, worldwide manufacturing and processing technology licensing agreement with INmune Bio ( INMB ). The agreement grants ELAB a license to use INMB's proprietary “EMx” technology, enabling ELAB to manufacture current Good Manufacturing Practice grade, human umbilical cord derived mesenchymal stromal cells at a lower cost.
Under the deal, ELAB will make an initial deposit for the license in two installments over six months, and a final tech transfer fee within two years of executing the agreement. The company will also pay a nominal royalty on the sale of licensed topical cosmetic products that are manufactured using the “EMx” technology.
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