Grant Life Sciences Inc. announced that it has signed a Memorandum of Understanding (MOU) with GuongDong Kangermei Industry Development Co. Ltd. (GDK) to license the manufacturing and distribution rights of Grant's AccuDx line of rapid, point-of-care (POC) tests in China and Hong Kong. Below is a summary of the key terms of the MOU, which will be used as the basis for a definitive License and Collaboration Agreement between Grant and GDK:
Grant agrees to license the manufacturing, distribution, and sales rights of certain AccuDx products for the territories of China and Hong Kong to GDK. The AccuDx products include POC tests to detect Hepatitis B and C, HIV 1 and 2, Dengue Fever, and heart attack markers Troponin 1 and Myoglobin.
Grant agrees to use GDK as an OEM (original equipment manufacturer) to produce AccuDx products for the markets outside of China and Hong Kong for an initial period of four years.
All products manufactured by GDK that are to be sold outside of China/Hong Kong shall be handled by Grant.
• Grant will own an undisclosed percentage of equity in GDK.
• GDK agrees that Grant will have one Director seat.
• GDK agrees to pay Grant RMB$1.0 million upfront to facilitate technology transfer.
"When this MOU is finalized, we look forward to a long and mutually beneficial relationship between Grant and GDK," said Huok Xin, CEO of GDK.
"When completed, this relationship with GDK will fit with Grant Life Science's new corporate strategy: to (1) acquire new products and technologies through in-licensing activities and optimize these products and technologies; (2) out-license them for further development and sales; and (3) drive sales through our own established marketing channels," said Dr. Hun-Chi Lin, President and Chief Scientist, Grant Life Sciences. "We expect this relationship with GDK will enable Grant to gain access in China to a large consumer market for our technologies and products."
About GDK
GuongDong Kangermei Industry Development Co., Ltd. (GDK) is a medical device company located in GuongDong Province, China, and has established a manufacturing facility and distribution channel in China. GDK is principally involved in the manufacturing of medical instrument sets comprising single-use injection syringes and single-use blood and plasma transfusion sets.
About Grant Life Sciences
Grant Life Sciences Inc., a development stage company, engages in the research, development, marketing, and sale of diagnostic kits for the screening, monitoring, and diagnosis of diseases with emphasis on women's health, infectious diseases, and cancers.
Source:佚名