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Easton Pharmaceuticals Announces Formally Accepting Proposal For The Sub-Licensing Of Product VS-Sense From German based Multi-National Pharmaceutical Company For Mexico; Agreement Includes An Up-Front Cash Payment And a Recurring Royalty
Easton Pharmaceuticals Announces Formally Accepting Proposal For The Sub-Licensing Of Product VS-Sense From German based Multi-National Pharmaceutical Company For Mexico; Agreement Includes An Up-Front Cash Payment And a Recurring Royalty.
About this update from Easton Pharmaceuticals Inc
[{"type":"text","content":"\n \n \n Easton Pharmaceuticals Announces Formally Accepting Proposal For The Sub-Licensing Of Product VS-Sense From German based Multi-National Pharmaceutical Company For Mexico; Agreement Includes An Up-Front Cash Payment And a Recurring Royalty\n \n \nEaston Pharmaceuticals Announces Formally Accepting Proposal For The Sub-Licensing Of Product VS-Sense From German based Multi-National Pharmaceutical Company For Mexico; Agreement Includes An Up-Front Cash Payment And a Recurring Royalty\n \n TORONTO, ON--(Marketwired - May 15, 2017) - Easton Pharmaceuticals, Inc. (OTC PINK: EAPH), announces that Easton / BMV Medica have formally accepted a proposal for the sub-licensing of product VS-Sense from a German based multi-national pharmaceutical company for Mexico, which includes an upfront cash payment to Easton / BMV and a royalty payment from all future sales.\n After many months of negotiations and several proposals, Easton / BMV have formally accepted a proposal for the sub-licensing of its VS-Sense product, licensed by Easton / BMV through Common Sense of Israel. The formal acceptance now moves the process towards the drafting of a final agreement following the formality to confirm naming and any regulatory impediments. Although final detailed terms of the agreement will be announced on a subsequent press release, following execution of a final agreement, the financial terms have been agreed to and include an upfront cash payment and royalty payments to Easton / BMV on every sale produced. VS-Sense will most likely be renamed to conform with other products being sold in other countries. The sub-licensing agreement confirms the desire of the German based Pharmaceutical giant, who's name cannot yet be disclosed until a final agreement has been executed, to expand to other large, lucrative and growing markets in Latin America. This agreement was as a result of Easton / BMV previously forwarding an additional payment of $300,000 to Common Sense to secure the rights to VS-Sense and women's diagnostic product AL-Sense (AmnioSense) where a contract is also close to being finalized with another multi-national Pharmaceutical company.\n VS-Sense is the current brand name of the BV (Bacterial Vaginosis) diagnostic test for women and is the same product Bayer Consumer Health had licensed and launched in late 2015 in Europe under its brand,...