The Parties intend to negotiate a strategic partnership to support U.S. Good Manufacturing Practice (“GMP”) manufacturing, clinical supply, and potential commercialization of bone marrow–derived mesenchymal stem cell (“MSC”) exosomes in the U.S. and international markets. The collaboration is expected to combine Exo-Top’s MSC Master Cell Bank (“MCB”) and exosome production expertise with BioXtek’s U.S. manufacturing infrastructure and commercialization capabilities to accelerate clinical and commercial exosome supply, and expand production capacity. In addition, the partnership is expected to address the growing demand for naïve exosomes across multiple therapeutic areas including the exosome-based regenerative aesthetics market which is experiencing rapid growth and is projected to surpass $1.6 billion by 2034