Cambium Bio (ASX:CMB) has entered into a term sheet with Keke Medtech, granting exclusive worldwide rights to develop and commercialize the company's proprietary human platelet lysate-derived fibrin biologic product for dental and oral wound healing applications, according to a Tuesday Australian bourse filing.

The deal includes an upfront payment of $250,000, of which $25,000 has already been received.

The deal also includes development milestones of up to $1.75 million and 10% royalties on the first $10 million and 13% thereafter.

The company will also receive a 20% share of non-royalty sublicense revenues.