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Stocks B / Bayer AG
|Subject: Bayer & Sont Medical Agreement||Date: 9/30/2005 3:33 PM|
|Author: Judyatooz||Number: 29 of 38|
Source: "SONT" SEC 9/28/05 Posting ~ Item 8.01 Other Events
On Juy 28, 2003, Sontra Medical Corp., (the "Company") and Bayer Diagnostics Division of Bayer Healthcare LLC (Bayer) executed a definitive license agreement pursuant to which the Company granted to Bayer an exclusive worldwide right and license of the Company's intellectual property rights to make, have made, use, import and sell a continuous non-invasive glucose monitoring system utilizing ultrasonic techniques.
Pursuant to the terms of the license agreement, the Company and Bayer are currently in the process of finalizing the terms of an agrement related to the continued joint development of a continuous non-invasive glucose monitoring system utilizing ultrasonic techniques. Such agreement is expected to define joint product development activities and delicerables, research development funding obligations, milestones and milestone payments, including the $3 million milestone payment upon completion of Phase 1 of Bayer's development process.
The Company expects to execute the agreement during the 4th quarter of fiscal 2005 and will make an announcement upon such execution.
For detailed information about factors that could cause actual results to differ materially from those described above, please refer to the Company's most recent Quarterly Report on Form 10-QSB on file with the SEC.
I have owned SONT shares for the past couple of years, yes it is what you would call a Penny stock, and being under $5 has no discussion board.
What is so great about SONT? Think about never having another painful needle shot ~ PAIN FREE shot is what SONT invented. Judy
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