Mr. Lee Buckler reports
REPLICEL LIFE SCIENCES COMPLETES FINANCING WITH YOFOTO (CHINA) HEALTH
RepliCel Life Sciences Inc. has completed the anticipated strategic investment with YOFOTO (China) Health Industry Co. Ltd.
YOFOTO has invested $5.09-million in RepliCel by the purchase of 5,357,000 common shares at 95 cents per share, and 1,071,580 share purchase warrants with each warrant exercisable at 95 cents per share for a period of two years. The transaction also includes the grant of an exclusive licence to YOFOTO of the company's tendon regeneration cell therapy technology (RCT-01), skin rejuvenation cell therapy technology (RCS-01) and its injection technology for dermal applications (RCI-02) (excluding hair-related treatments) in greater China (Mainland China, Hong Kong, Macau and Taiwan) in consideration of milestone payments, sales royalties and a commitment by YOFOTO to finance, over the next five years, the included RepliCel programs and an associated cell processing manufacturing facility in greater China.
RepliCel and YOFOTO are now ready to launch the first phase of their strategic collaboration in the territory and RepliCel's next stage of activity outside of Asia. The joint effort with YOFOTO will focus on the further development and commercialization of RepliCel's tendon regeneration cell therapy technology (RCT-01), skin rejuvenation cell therapy technology (RCS-01) and injection technology for dermal applications (RCI-02) (excluding hair-related treatments) in the territory.
All of the shares and warrants issued to YOFOTO will be subject to a statutory hold period expiring four months and one day after issuance of the shares and warrants.
About RepliCel Life Sciences Inc.
RepliCel is a regenerative medicine company focused on developing cell therapies for aesthetic and orthopedic conditions affecting what the company believes is approximately one in three people in industrialized nations, including aging/sun-damaged skin, pattern baldness and chronic tendon degeneration. These conditions, often associated with aging, are caused by a deficit of healthy cells required for normal tissue healing and function. The company's product pipeline comprises RCT-01 for tendon repair, RCS-01 for skin rejuvenation and RCH-01 for hair restoration. RCH-01 is currently being co-developed with, and under exclusive license by, Shiseido for certain Asian countries.
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