Miraculins Finalizes Agreement Terms for Cachet Pharmaceutical to Distribute Scout DS(R) Diabetes Screening Test in China
Execution of Definitive Agreement Expected to Take Place within 30 Days
WINNIPEG, MANITOBA-- Jun 25, 2014 Miraculins Inc. (TSX VENTURE:MOM) ("Miraculins" or the "Company"), a medical diagnostic company focused on acquiring, developing and commercializing diagnostic tests and risk assessment technologies for unmet clinical needs, today announces that the Company has finalized the major terms of a definitive agreement (the "Agreement"), that would see the Scout DS® Diabetes Screening Test distributed exclusively in China by Cachet Pharmaceutical Co., Ltd. ("Cachet"). These terms are substantially similar to those outlined in the Company's term sheet announcement made January 31, 2014, and include the placement of an initial order for Scout DS® devices valued at $15 Million USD on the signing of the Agreement, to be activated upon Chinese Food and Drug Administration regulatory clearance.
- Published: 25 June 2014
- Written by Editor