We have acted as external counsel on commercial and IP matters for Cynata Therapeutics Ltd (ASX:CYP) since 2013, including its recent takeover approach from Sumitomo Dainippon Corporation, and its transformative contracts with Fujifilm Corporation in 2019 (GvHD License Agreement), 2017 (Licence Option and Subscription Agreements), 2016 (Term Sheet) and under which Cynata received capital investment of AU$4m, a US$3m signing fee, up to AU$60m total milestone payments and a royalty on product sales. We also acted for the CEO of Cynata in his previous role.