Caladrius Biosciences, Inc., has licensed exclusive global rights to its cell-derived dermatological technology for topical skin applications to AiVita Biomedical, Inc. The company says this transaction supports its strategy to monetize non-core assets.

AiVita, a biotechnology company, was founded in 2016 by Dr. Hans Keirstead, Caladrius’ former Chief Science Officer, and expects to manufacture and distribute a cosmetic skincare product based on the licensed technology for commercial sale beginning in the second quarter of 2016 through Alphaeon Corporation. Caladrius will receive royalties on net sales.

“Licensing this dermatological technology to AiVita is yet another step forward in streamlining our strategic focus while monetizing non-core assets through royalty- and/or other milestone-driven transactions. In this case, the technology fits neither the type nor the scope of manufacturing that is the basis of PCT’s business,” said David J. Mazzo, PhD, Chief Executive Officer of Caladrius. “We look forward to Alphaeon’s launch of this product and to sharing in its economic success.”