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Somanetics Signs Contract Development and Exclusive Licensing Agreement for Several Novel Technologies.

Publication: PR Newswire
Publication Date: 18-SEP-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
TROY, Mich., Sept. 18 /PRNewswire-FirstCall/ -- Somanetics Corporation today announced that it has entered into a Contract Development and Exclusive Licensing Agreement with NeuroPhysics Corporation of Shirley, Mass. The agreement provides Somanetics with feasibility research, contract development and consulting services and certain ownership and licensing rights to intellectual property and technical knowledge associated with several novel near-infrared spectroscopy ("NIRS") and imaging technologies and products under development at NeuroPhysics. Somanetics will pay an initial license fee of $1 million, monthly license fees beginning April 1, 2008 for products continuing under development at NeuroPhysics and a royalty on any future sales.

"This agreement is an important step toward achieving our goals of sustaining meaningful and long-term technological advantage in our core competence of depth-resolved NIRS, expanding the market...

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