Business
DECN Chooses to License its Genultimate TBG Technology to Perfectly Situated Partner, Anticipates Agreement Will Yield Revenue Stream in Excess of $100 Million Over 5 Year Term, Company to Retain its Intellectual Property
DECN Chooses to License its Genultimate TBG Technology to Perfectly Situated Partner, Anticipates Agreement Will Yield Revenue Stream in Excess of $100 Million Over 5 Year Term, Company to Retain its Intellectual Property.
About this update from Decision Diagnostics Corp
[{"type":"text","content":"Company Also Announces That at the End of 2Q 2019 All Legal Issues Brought Against Shasta Technologies Were Settled, DECN Will Realize Significant Gain in 2Q 2019 Period LOS ANGELES, CA / ACCESSWIRE / August 1, 2019 / Decision Diagnostics Corp. (OTC PINK:DECN) is a 17-year old, diabetes-focused bio-technology development firm, manufacturer, quality plan administrator, FDA registered medical device customer support organization, and exclusive worldwide sales and regulatory process agent for the GenUltimate! ("Sunshine") diabetes test strip, the internationally launched GenSure! ("Feather") diabetes test strip, and its GenChoice! ("Ladybug") test strip now in FDA 510(k) prosecution. The company also markets the PetSure! test strip for the diabetic testing of dogs and cats, a diagnostic specifically designed to run on the market leading Zoetis Alpha Trak meter system and the GenUltimate! 4Pets Test strip and Avantage! meter a proprietary testing product for dogs, cats and horses, and the panacea GenUltimate! TBG ("Dragonfly") diabetes testing system, now awaiting a clinical trial slot in Korea.After a 90-day process where a number of propositions for the company’s GenUltimate TBG technology emerged, some solicited, some not, DECN has chosen to complete an arrangement whereby it will license its GenUltimate TBG technology to a single party on an exclusive sales basis. The license agreement as outlined will not include a transfer of the DECN Intellectual Property. The structure of the agreement between the partners will include a significant up-front payment for the exclusivity rights alone as well as healthy license fees that over a 5-year period will realize the full potential of the technology and product. Keith Berman, CEO of DECN, commented, “The Company received a total of six different transaction structures inclusive of outright sale of the technology, arrangements that included non-compete covenants, two earn-out propositions, and eventually two licensing agreements. We ultimately chose the licensing agreement that left the company with the freedom to complete development and then sell our in-development GenChoice TBG and upcoming CGM TBG products.”DECN will provide a detailed discussion of the company’s strategic decisions in the upcoming 2Q 2019 Quarterly Report, due in approximately...