Brief: Observe Medical Subsidiary Signs Asset Transfer Agreement With Unomedical

Observe Medical ASA

11/09/2023 14:21

Sept 11 (Reuters) - Observe Medical ASA  OBSRV.OL :
    * OBSERVE MEDICAL SIGNS MILESTONE AGREEMENT WITH UNOMEDICAL
    * HAS, THROUGH WHOLLY OWNED SUBSIDIARY OBSERVE MEDICAL AS
SIGNED
ASSET TRANSFER AGREEMENT WITH UNOMEDICAL A/S AND UNOMEDICAL
S.R.O. AS SELLERS
    * TRANSACTION IS SIGNIFICANT STEP FORWARD FOR OBSERVE
MEDICAL AS
IT EXPANDS ITS PRODUCT PORTFOLIO AND STRENGTHENS ITS POSITION IN
MARKET
    * PURSUANT TO ATA, OMAS ACQUIRES TRADEMARKS, OTHER
INTELLECTUAL
PROPERTY RIGHTS RELATING TO URINE MEASUREMENT PRODUCTS KNOWN AS
UNOMETERT, ABDO-PRESSURET PRODUCTS
    * AS PER ATA, TOTAL PURCHASE PRICE IS USD 4,195,000
    * INITIAL PAYMENT WILL BE FINANCED BY LOAN AGREEMENTS
ENTERED INTO
BY COMPANY AS PER A SEPARATE STOCK EXCHANGE NOTIFICATION
    * COMPANY IS WORKING TO SECURE REQUIRED FINANCING TO FUND
REMAINING PURCHASE PRICE
    * CLOSING OF TRANSACTION IS EXPECTED TO TAKE PLACE NO EVENT
LATER
THAN 1 SEPTEMBER 2025
    * OMAS HAS SIMULTANEOUSLY WITH ENTERING ATA, ENTERED INTO A
TEMPORARY LICENSE AGREEMENT WITH SELLERS SECURING OMAS RIGHT TO
USE ASSETS AND RIGHTS ACQUIRING UNDER ATA IN PERIOD BETWEEN
SIGNING AND CLOSING OF ATA

Source text for Eikon:  ID:nObi8GCwFa 
Further company coverage:  OBSRV.OL 

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