That's a great question. I think there are two things going on here.
1. Oncoscope's bankruptcy bought by SCIE
2. Duke's creation with Adam Wax and gang on a/LCI technology
Although the two are connected, they are separate as well. Duke isn't just a university. They have licensing departments for students and faculty to use. When Duke members create new technologies the licensing department helps them get the tech to market. Adam Wax and gang (old CEO of Oncoscope) created their tech at Duke. Pretty much the entire gang of Oncoscope worked at Duke.
Adam wax wanted to create a business utilizing this tech. The technology works, but for whatever reason the business failed. This led to bankruptcy.
Even though Duke members created the tech, the separate company 'Oncoscope' had to legally file for bankruptcy. Sure, duke could have bought Oncoscope but I doubt the university is in the business of pulling companies out of bankruptcy.
Instead, Spectrascience, which has known about Oncoscope for years, bought them out. There are old PRs listing Oncoscope as SCIE's competitor.
Buying the bankrupt company doesn't mean that the buyer, SCIE, owns the rights to the technology. Duke apparently has the rights to the tech because Adam Wax and gang created it at Duke. This means (I assume) that although SCIE now owns the tangible assets of Oncoscope, the technology is owned (in some form or another) still by Duke.
Pretty much we're probably going to read a lot of "Specific terms of the agreement were not disclosed" for quite some time.
From a business perspective, I don't see why Duke would license it to another company. Duke must have something SCIE wants and SCIE must have something Duke wants. For right now, that's the only information I can come up with. Someone else may know more.
Having a Licensing Agreement is nothing new or strange. It happens all the time between businesses. In fact, this isn't the first time a Licensing Agreement With Duke University has occurred.
In another post, I wrote about:
Vital Images is a company who, like SCIE, got a Licensing Agreement With Duke. This ultimately led to Vital Images being bought out by Toshiba for $10+ PER share.
http://www.prnewswire.com/news-releases/vital...82542.html
Notice under the terms of agreement for Vital Images:
I think SCIE's agreement will be similar to this. SCIE probably has the rights to incorporate the software in its current and future medical products, and to make all necessary enhancements and upgrades. At the same time, the ownership of the technology belongs to Duke. Again, in business this happens all the time. Not every company creates their own software; they pay a software company to design it for them.
As a very simple example, anyone using Microsoft Word; I highly doubt any of us created our own version of Microsoft Word. Instead, we buy a license key from Microsoft (when we bought Office) to use the software. Same goes for businesses. Spectrascience doesn't need to spend millions to create a/LCI technology. Instead, SCIE has a licensing agreement with Duke University.
In all, I believe this Duke agreement is going to propel us to the next level. The exposer alone in the past 2 weeks is probably more than we've had in 2 years.
Notice the quote from Duke:
"they selected our software to include in their leading-edge Vitrea
system" sounds to me like Vital Images chose to use Duke's software; not Duke asked them to use it.
Its also possible part of the agreement with Duke to use their technology was for SCIE to buy the backrupt Oncoscope. Right now, its all guess work, but if Vital Images was bought out for $10+, I'm sticking around to see what happens with SCIE.
1. Oncoscope's bankruptcy bought by SCIE
2. Duke's creation with Adam Wax and gang on a/LCI technology
Although the two are connected, they are separate as well. Duke isn't just a university. They have licensing departments for students and faculty to use. When Duke members create new technologies the licensing department helps them get the tech to market. Adam Wax and gang (old CEO of Oncoscope) created their tech at Duke. Pretty much the entire gang of Oncoscope worked at Duke.
Adam wax wanted to create a business utilizing this tech. The technology works, but for whatever reason the business failed. This led to bankruptcy.
Even though Duke members created the tech, the separate company 'Oncoscope' had to legally file for bankruptcy. Sure, duke could have bought Oncoscope but I doubt the university is in the business of pulling companies out of bankruptcy.
Instead, Spectrascience, which has known about Oncoscope for years, bought them out. There are old PRs listing Oncoscope as SCIE's competitor.
Buying the bankrupt company doesn't mean that the buyer, SCIE, owns the rights to the technology. Duke apparently has the rights to the tech because Adam Wax and gang created it at Duke. This means (I assume) that although SCIE now owns the tangible assets of Oncoscope, the technology is owned (in some form or another) still by Duke.
Pretty much we're probably going to read a lot of "Specific terms of the agreement were not disclosed" for quite some time.
Quote:what is stopping duke from licensing it to another company
From a business perspective, I don't see why Duke would license it to another company. Duke must have something SCIE wants and SCIE must have something Duke wants. For right now, that's the only information I can come up with. Someone else may know more.
Having a Licensing Agreement is nothing new or strange. It happens all the time between businesses. In fact, this isn't the first time a Licensing Agreement With Duke University has occurred.
In another post, I wrote about:
Quote:Vital Images Announces Licensing Agreement With Duke University
Vital Images is a company who, like SCIE, got a Licensing Agreement With Duke. This ultimately led to Vital Images being bought out by Toshiba for $10+ PER share.
http://www.prnewswire.com/news-releases/vital...82542.html
Notice under the terms of agreement for Vital Images:
Quote:Under the terms of the agreement, the company has the right to Duke's object and source code, to incorporate the software in its current and future medical visualization products, and to make all necessary enhancements and upgrades. Specific terms of the agreement were not disclosed.
I think SCIE's agreement will be similar to this. SCIE probably has the rights to incorporate the software in its current and future medical products, and to make all necessary enhancements and upgrades. At the same time, the ownership of the technology belongs to Duke. Again, in business this happens all the time. Not every company creates their own software; they pay a software company to design it for them.
As a very simple example, anyone using Microsoft Word; I highly doubt any of us created our own version of Microsoft Word. Instead, we buy a license key from Microsoft (when we bought Office) to use the software. Same goes for businesses. Spectrascience doesn't need to spend millions to create a/LCI technology. Instead, SCIE has a licensing agreement with Duke University.
In all, I believe this Duke agreement is going to propel us to the next level. The exposer alone in the past 2 weeks is probably more than we've had in 2 years.
Notice the quote from Duke:
Quote:Carl Ravin, chairman, Department of Radiology, Duke University Medical
Center, said, "Duke has invested heavily in the development of new radiology
network technologies, including our DICOM software libraries. This
relationship with Vital Images demonstrates that we have developed a high
quality, high performance implementation of DICOM standards. We are pleased
that they selected our software to include in their leading-edge Vitrea
system ."
"they selected our software to include in their leading-edge Vitrea
system" sounds to me like Vital Images chose to use Duke's software; not Duke asked them to use it.
Its also possible part of the agreement with Duke to use their technology was for SCIE to buy the backrupt Oncoscope. Right now, its all guess work, but if Vital Images was bought out for $10+, I'm sticking around to see what happens with SCIE.
1
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Disclaimer:
As used herein, the terms "You" and "Your" shall mean you, individually, the reader, and each other party on whose behalf you may use the contained information at any time.
All references to "My", "I", and “The writer of the above post” shall refer to the creator of the username Joey68.
Do NOT invest unless you are prepared to sustain a total loss of the money you have invested plus any commission or other transaction charges.
There is a very high degree of risk involved in trading and investing. Past results are not indicative of future returns. I assume no responsibility for your trading and investment results. You should NOT rely on the information in the above post to make any decision or take any action.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are OPINION and NOT fact and are for entertainment purposes only. Do your own research and make your own decisions based on your own conclusions.
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My posts are NOT investment advice. I am not paid to post.
There is no correlation between the number of posts I write per day and your assumed success of a company.
It is NOT my responsibility to inform you of my own personal investment decisions.
It is NOT my responsibility to inform you when it is time for you to buy, hold, and/or sell a position.
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