Ann: Regeneus and Kyocera sign Progenza OA deal, page-14

Well I have to admit that Leo has righted the ship and pulled off a better deal than I had thought likely. While I sold a few on the open this morning, I think things now look bright enough to hold the remainder into the medium term.

So we have $11 million coming into the kick immediately, and presumably what’s left of the $2 million already received will be used to repay what has been used to date from the loans previously stumped up by Leo Lee and Barry Sechos.

One thing that may need to be clarified is exactly what is meant by “Regeneus will receive single to high double digit royalties on all future OA product sales in Japan...”. I’m guessing this refers to percentages of each OA product sale in Japan, but it seems to be worth clarifying.

It does seem reflective of the level of interest in Progenza from Kyocera that it has sought and gained right of first refusal for Progenza indications other than OA, inside and outside Japan.

zeno9