VistaGen Signs Sublicense Agreement On Cardiac Stem Cell Technology

VistaGen Therapeutics shares were higher 5% in recent pre-market trade after the biopharmaceutical company said it has signed a sublicense agreement with stem cell research company BlueRock Therapeutics for cardiac stem cell technology.

VistaGen will receive an upfront cash payment of nearly $1.3 million and potential future milestone payments and royalties.

The company licensed rights of the cardiac stem cell technologies from University Health Network in Canada through an agreement with Dr. Gordon Keller, director of the university’s McEwen Centre for Regenerative Medicine. BlueRock was established by Germany’s Bayer and privately-held Versant Ventures.