StockMarketWire.com - Immunodiagnostics group Oncimmune said it had agreed to acquire the intellectual property and distribution rights for its lung-cancer diagnostics technology in China from Genostics Company.

Oncimmune said the move would allow it to pursue an optimum route to market in an important territory.

It had granted Genostics the exclusive rights to its EarlyCDT products. All material, IP, data, and goodwill would now be transferred back to Oncimmune, which would be be paid in full for royalties due in January 2021 under an existing technology licencing agreement.

In consideration, Oncimmune said it had agreed to pay a fixed amount for the return of the IP and distribution rights, with the majority of the value of the consideration being conditional on fixed future events.


At 9:25am: [LON:ONC] Oncimmune Holdings Plc share price was 0p at 177.5p



Story provided by StockMarketWire.com