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Grant Life Sciences, Inc.

DTL to develop, commercialize Grant's cervical cancer-diagnostic technology

Published in Law and Health Weekly, May 13th, 2006

Grant Life Sciences, Inc., (GLIF) announced that it has entered into a memo of understanding (MOU) with Israel-based Diagnostic Technologies, Ltd., (DTL) related to commercialization of Grant's cervical cancer-diagnostic technology (U.S. patent no. 6,743,593).

Under the MOU, Grant will receive an upfront licensing fee of $250,000. In addition, the MOU calls for DTL to conduct all development at its own cost, including clinical trials, associated with the commercialization of the products developed from Grant's cervical cancer-diagnostic technology. Upon commercialization, DTL will pay Grant an ongoing royalty on sales of the products developed, according to the...

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