TSXV:VER.H - Post by User
Comment by
basherbusteron Dec 21, 2014 12:37pm
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Post# 23253932
RE:This should have been my proper response
RE:This should have been my proper responseInsight ...
Do you know if there is any expiry date with their licensing agreement? I could not find any other paperwork other than the following links of their old company name T Ray.
https://www.verisante.com/news/32/t-ray-science-inc-licenses-lung-cancer-detection-technology-from-the-bc-cancer-agency/
https://www.canada.com/story_print.html?id=30f6b394-8c40-4103-ac74-4edd1ceadb42&sponsor=
It does not look like Verisante will have a big problem meeting their obligation. It almost looks like a hand shake agreement.
There must be more to this than meets the eye. The Annual License maintenance fee may be the only big bill. The royalty is payable only on sales. I could not find a certain obligation in amount of sales required yearly. There is not much there.
Do you know where I could find other obligations with Verisante's agreement with The BCCA's Agreement?
Under the terms of the agreement, T-Ray gains an exclusive worldwide right to use and sublicense BCCA's skin cancer detection technology; and to manufacture, distribute and sell products based on the licensed technology. In return, T-Ray pays BCCA an initial licensing fee, a royalty on sales, and an annual license maintenance fee.