Brief: Prophase Labs Acquires Rights To Novel Esophageal Cancer Test

Prophase Labs

19/12/2022 13:39

Dec 19 (Reuters) - Prophase Labs Inc  PRPH.O :
    * PROPHASE LABS ACQUIRES RIGHTS TO NOVEL ESOPHAGEAL CANCER
TEST
    * PROPOSED DEAL FOR FOR APPROXIMATELY $4.5 MILLION DOLLARS
    * TO BUY FROM STELLA DIAGNOSTICS WORLD-WIDE EXCLUSIVE RIGHTS
TO
STELLA'S BE-SMART ESOPHAGEAL PRE-CANCER DIAGNOSTIC SCREENING
TEST
    * TO BUY FROM STELLA DIAGNOSTICS STELLA'S BE-SMART
ESOPHAGEAL
PRE-CANCER DIAGNOSTIC SCREENING TEST RELATED IP ASSETS
    * ADDITIONAL $2 MILLION OF STOCK MAY BE ISSUED TO STELLA 
UPON
ACHIEVEMENT OF REVENUE-BASED COMMERCIAL MILESTONE WITHIN 5-YRS 
AFTER DEAL CLOSE
    * STELLA WILL ALSO RECEIVE A 5% ROYALTY BASED ON ADJUSTED
GROSS
MARGIN GENERATED FROM COMMERCIALIZATION OF IP ACQUIRED FROM
STELLA

Source text for Eikon:  ID:nGNX86ydH8 
Further company coverage:  PRPH.O 
 ((Reuters.Briefs@thomsonreuters.com))