Term sheet in place for first Commercialization Agreement
- AcouSort and one of its lifescience partners (OEM Partner 1) have agreed on a non-binding Term Sheet to serve as the basis for a formal Commercialization Agreement for using AcouSort IP in future new versions of one of the Partner’s current main product families.
- According to the Term Sheet, the Partner will exclusively license AcouSort Technology for a specific application within the Partner’s business field.
- The Term Sheet contains agreed commercial terms such as sales dependent royalty rates and minimum royalties
- This very important milestone is in line with the company’s strategic plan for primarily commercializing its acoustofluidics technology through OEM or licensing agreements with major life science players.
- See also the original press release (in Swedish) here: 171222 – Term sheet