PharmaCyte Biotech (OTCQB:PMCB +4.1%) has entered
into a license agreement with Hai Kang Life, for sharing certain
technology owned or controlled by Hai Kang related to COVID-19
diagnostic kits.
During the term of the Agreement, PharmaCyte is
required to pay a monthly fee to Hai Kang in the amount of $6K; this
monthly fee increases to $50K once the first Product receives regulatory
approval from the U.S. FDA.
In addition, upon the first commercial sale of a
Product, PharmaCyte is required to make quarterly royalty payments equal
to 10% of Net Sales of any Product sold pursuant to the Agreement.
While Hai Kang is obligated to manufacture any
such Product, PharmaCyte cannot assure that the Hai Kang’s manufacture
of any Products will comply with U.S. regulatory requirements or that
any health care facility or provider will be willing or able to use
Products manufactured by Hai Kang.
https://seekingalpha.com/news/3559382-pharmacyte-biotech-enters-license-agreement-for-covidminus-19-diagnostic-kits
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.