Rosetta Genomics (ROSG) Enters License to Market miRview mets in China
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Rosetta Genomics (Nasdaq: ROSG), has executed a license agreement with Avatao Biotech for the exclusive rights to market miRview mets and miRview mets(2), Rosetta's microRNA-based diagnostic tests, in The People's Republic of China.
Avatao will also have the exclusive rights to market one additional Rosetta Genomics' product in China which will be selected by Avatao within a year. Avatao is supported by Kunshan microRNA Institute, a leading research institute focused on microRNA technologies.
Under the agreement, Avatao obtains exclusive rights to market and sell the specified miRview tests in The People's Republic of China, including its special administrative regions Hong Kong, Taiwan and Macau. Under the terms of the agreement, Rosetta will receive upfront payments, payments upon achievement of certain regulatory and commercial milestones and royalties based on net sales. The total potential payments under the agreement exceed $8 million, in addition to royalties from the sales of these products.
Avatao will also have the exclusive rights to market one additional Rosetta Genomics' product in China which will be selected by Avatao within a year. Avatao is supported by Kunshan microRNA Institute, a leading research institute focused on microRNA technologies.
Under the agreement, Avatao obtains exclusive rights to market and sell the specified miRview tests in The People's Republic of China, including its special administrative regions Hong Kong, Taiwan and Macau. Under the terms of the agreement, Rosetta will receive upfront payments, payments upon achievement of certain regulatory and commercial milestones and royalties based on net sales. The total potential payments under the agreement exceed $8 million, in addition to royalties from the sales of these products.
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