RepliCel Life Sciences Lands Commitment for Key Investment Partnership

RepliCel Life Sciences (TSX:RP), announced it has signed a Binding Term Sheet with YOFOTO (China) Health Industry Co. to form a strategic partnership in Greater China.
As quoted from the press release:

The deal reflected in the Term Sheet, involves an up-front investment of USD $6,500,000 and potential pre-commercial, non-dilutive milestones payments of another USD $2,800,000. Additionally, the Term Sheet commits YOFOTO to another USD $1,000,000 in potential post-commercial non-dilutive milestone payments, several million in dedicated program funding in Greater China over the next five years, and future royalty payments calculated on gross product sales in the Territory.

Click here to read the full press release.