Instinct Bio Technical Company Holdings Inc. (Nasdaq: BIOT) announced today that its subsidiaries, Instinct Brothers Co., Ltd. and Artisans Production Co., Ltd., have entered into a Memorandum of Agreement with Invitrx Therapeutics, Inc. (INVITRX) to establish a strategic framework for two proposed workstreams: manufacturing and selling GENREVER cosmetic products in the United States, and supplying concentrated exosomes and conditioned media for clinics and an in-hospital cell processing center in Indonesia.
The collaboration builds on a six-year commercial relationship under which Instinct Bio has sourced principal raw materials from INVITRX for use in its products. The company believes this existing relationship may facilitate coordination as both parties evaluate the proposed collaboration.
Under the proposed collaboration, Instinct Bio intends to license the GENREVER trademark, Artisans Production will contribute its proprietary formulations and raw materials, and INVITRX is expected to manufacture GENREVER products at its U.S. GMP manufacturing facility. The parties intend to position GENREVER as a premium Japanese cosmetics brand for the U.S. market, subject to applicable regulatory requirements.
Additionally, the parties intend to collaborate on initiatives supporting proposed clinics and an in-hospital cell processing center and laboratory in Indonesia. Subject to applicable regulatory requirements, INVITRX is expected to supply concentrated exosomes and conditioned media while the parties evaluate opportunities to establish a localized regenerative medicine platform in one of Asia's rapidly growing healthcare markets.
The parties intend to negotiate definitive commercial agreements covering manufacturing, supply, commercialization, and other operating arrangements while progressing the regulatory assessments required for each proposed initiative. There can be no assurance that definitive agreements will be entered into or that the proposed collaboration or any contemplated initiatives will be completed or implemented.
Tomoki Nagano, Chief Executive Officer of Instinct Bio, stated: "This collaboration represents an important step in our strategy to expand Instinct Bio's international platform. By bringing together the GENREVER brand, Artisans Production's proprietary formulations and INVITRX's U.S. GMP manufacturing capabilities, we believe we are creating a strong foundation for future growth in both the United States and Southeast Asia."
For more information about Instinct Bio, visit the company's website at https://instinct-biot.com/.
Invitrx Therapeutics, Inc. is a U.S.-based biotechnology company that operates a GMP manufacturing facility and develops and supplies cell-derived biological materials, including concentrated exosomes and conditioned media.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the company's current expectations and involve known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially. These risks include among others the parties' ability to negotiate and execute definitive agreements, obtain required regulatory approvals, satisfy applicable legal and regulatory requirements, successfully develop and commercialize the contemplated products and services, market acceptance, manufacturing and supply chain risks, changes in applicable laws or regulations, and the other risks described in the company's filings with the U.S. Securities and Exchange Commission.
