Soundbite Medical Solutions announced that it has entered into an exclusive license agreement with VFLO Medical (VFLO).
Pursuant to the agreement, Soundbite has granted VFLO an exclusive license for certain proprietary products including its SoundBite crossing system and the Active microcatheter system. Under the Agreement, VFLO is entitled to manufacture, develop, and commercialise the products in mainland China, Hong Kong, Macau, and Taiwan. Soundbite is, in return, entitled to receive an upfront fee, subsequent milestone payments, plus royalties from sales of such products. The terms also allow cross-licensing on future improvements of the products, aligning both companies’ focus on innovation.
“The growing prevalence of atherosclerotic vascular disease burdened by calcium has become a serious public health problem in China. We are excited to partner with the Soundbite team and look forward to bringing the unique technology and portfolio of treatment solutions to patients in Greater China that suffer from calcified arterial disease,” commented Dong Wu, president and CEO of VFLO.
“We are thrilled to work with VFLO to bring our revolutionary shock wave technology to patients in China, opening a key market for our company with an experienced partner like VFLO. Bringing non-dilutive capital to our shareholders provides us with the opportunity to build meaningful value while serving patients in the growing Chinese market,” said Lori Chmura, president and CEO of Soundbite.
