Cell Therapies has announced an exclusive licensing agreement with South Korean-based Medipost for the distribution and manufacture of its innovative product Cartistem® a cellular treatment for osteoarthritis (OA) and focal defects of the knee
CARTISTEM® is the world’s first therapeutic agent approved for treating degenerative arthritis and knee cartilage defects, which is based on stem cells derived from cord blood.
“CARTISTEM® is a treatment for an indication with an increasing frequency due to an aging population,” said Mr Ray Wood, CEO of Cell Therapies. “We believe this novel allogenic cell therapy can deliver relief to patients without an alternative.”
Since completion of Phase III trials and regulatory approval in Korea more than 450 patients have been successfully treated. A key finding of the Phase III trial was the positive outcome for older patients who have previously not been considered suitable for treatment.