The licensed “EMx” technology is a proprietary manufacturing process that entails specific know-how designed to efficiently produce cGMP grade hucMSCs. The licensing agreement grants Elevai an exclusive license, to utilize “EMx” technology for the development and commercialization of licensed topical cosmetic applications. Elevai expects the “EMx” technology to provide the ability to manufacture cGMP grade hucMSCs for its future topical cosmetic product development and manufacturing needs, at a lower cost than purchasing them at market which Elevai believes enhances its competitive position for long-term success.
Global Rights: The agreement stipulates worldwide rights, emphasizing the global impact and potential of this license-based partnership.
Ethical and Quality Standards: The agreement requires all licensed topical cosmetic products to be manufactured in compliance with cGMP and ethical sourcing and screening of umbilical cords of healthy full-term newborns.
Consideration: Under the agreement, Elevai will make an initial deposit for the license in two installments over six months, and a final tech transfer fee within two years of executing the agreement. As further consideration under the agreement, Elevai will be required to pay a nominal royalty on the sale of licensed topical cosmetic products that are manufactured using the “EMx” technology.
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