Brief: NeuroMetrix Says Entered Into Termination Agreement With GSK Consumer Healthcare S.A.

NeuroMetrix

30/06/2021 21:49

June 30 (Reuters) - NeuroMetrix Inc  NURO.O :
    * NEUROMETRIX - ENTERED INTO A TERMINATION AGREEMENT WITH
GSK
CONSUMER HEALTHCARE S.A. TERMINATED DEVELOPMENT AND SERVICES
AGREEMENT DATED JANUARY 12, 2018
    * NEUROMETRIX - AGREEMENTS PROVIDED GSK WITH LICENSE AND
INTELLECTUAL PROPERTY RIGHTS FOR DEVELOPMENT OF QUELL TECHNOLOGY
FOR MARKETS OUTSIDE U.S.
    * NEUROMETRIX - GSK TRANSFERRED BACK TO CO ALL OF GSK’S
RIGHTS,
TITLE AND INTEREST IN QUELL TECHNOLOGY RELATED TO MARKETS
OUTSIDE U.S.
    * NEUROMETRIX - AGREED TO MAKE ROYALTY PAYMENTS TO GSK OF
5%-8%
FOR 10-YEAR PERIOD BASED ON NET SALES OF QUELL DEVICES

Source text: [https://bit.ly/3hqO7RD]
Further company coverage:  NURO.O 

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