Stemgent Inc. and Germany-based Miltenyi Biotec inked a strategic partnership deal that will see the firms co-develop and market stem cell products.
Under the terms of the agreement, Miltenyi Biotec will be responsible for the overseas marketing and sale of Stemgent’s existing stem cell reagents, antibodies and other products, with Stemgent continuing to serve its U.S. customers. Both companies will begin to jointly develop new products, which Miltenyi Biotec will then commercialize.
The deal also calls for the German firm to make an equity investment in Stemgent, with CEO Stefan Miltenyi joining Stemgent’s board.
The agreement expands Stemgent’s exposure to the global stem cell technology market and gives Miltenyi access to the American company’s technology.
