Nanotope, Inc. Enters Agreement with Smith & Nephew for the License and Development of Cartilage Regeneration Techno
Nanotope is an Arrowhead Portfolio Company
Story content courtesy of Arrowhead Research Corporation (NASDAQ: ARWR)
Under the agreement, Nanotope and Smith & Nephew will work together to optimize a cartilage regeneration product based on Nanotope's proprietary platform. Nanotope will potentially receive up to $26.55 million in milestone payments plus sales royalties if all milestones are met. This agreement represents Nanotope's first commercial transaction, and is in line with its strategy to leverage larger companies' development and distribution capabilities within individual target markets. As a global leader in orthopedics and sports medicine, Smith & Nephew is well positioned to help bring an advanced cartilage repair product to market to provide effective treatment to a condition with large economic and quality of life costs.
Nanotope's technological platform was first developed at Northwestern University by Dr. Samuel I. Stupp, Professor of Materials Science & Engineering, Chemistry and Medicine and Director of the Institute for BioNanotechnology in Medicine (IBNAM). Nanotope continues to develop a suite of products, each customized to regenerate specific tissues; including neuronal, vascular, bone, and myocardial.