Misonix Enters into $11 Million License, Royalty and Manufacturing Agreement
MISONIX, Inc. (MSON)
US:NASDAQ Investor Relations:
phx.corporate-ir.net/phoenix.zhtml?c=117022&p=irol-irhome
Company Research
Source: GlobeNewswire
FARMINGDALE, N.Y., Oct. 20, 2017 (GLOBE NEWSWIRE) -- Misonix, Inc. (Nasdaq:MSON), a provider of minimally invasive therapeutic ultrasonic medical devices that enhance clinical outcomes, announced today that it has entered into a license and exclusive manufacturing agreement with Hunan Xing Hang Rui Kang Bio-Technologies Co., Ltd., a Chinese corporation, under which Misonix has licensed certain manufacturing and distribution rights to its SonaStar product line in The People’s Republic of China (“PRC”), Hong Kong and Macau in exchange for payments totaling a minimum of $11 million. The agreement calls for (i) upfront technology license fees and stocking orders of $5 million; (ii) minimum royalty payments from the sale of SonaStar products in the licensed territories of $2 million per calendar year in each of 2019, 2020, and 2021 and (iii) additional royalty payments based on product sales through August 2027. The Agreement also provides that Misonix will supply SonaStar products to
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