Biotech companies got a boost in Japan on Friday as it was announced that SanBio will be listed publicly on the Tokyo Stock Exchange beginning April 8.
SanBio develops regenerative cell therapy, undertaking U.S. clinical trials on chronic stroke patients who have not responded to conventional therapies with its SB623 treatment showing positive results.
Other Japanese companies in the same space include Sumitomo Dainippon Pharma, which would sell SB623 in the U.S., and Teijin, which has an exclusive development and sales rights license for Japan.
The listing follows news that Cleveland-based Athersys ($ATHX) is pocketing a $10 million up front from Chugai in exchange for licensing rights to the biotech's stem cell treatment for repairing stroke damage. The Japanese pharma company, which has close relations with Roche ($RHHBY), also stands to earn up to $45 million in development and regulatory milestones with another $150 million in sales milestones.
The Athersys therapy is a potential competitor to SanBio's SB623.
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