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Guided Therapeutics Signs Preliminary License Agreement with Turkish Distribution Partner Based on Ministry of Health Support for the LuViva Advanced Cervical Scan
8:45 am ET December 8, 2017 (BusinessWire)
Guided Therapeutics, Inc. (OTCQB: GTHP), the maker of a rapid and painless testing platform based on its patented biophotonic technology, announced today that it has signed a preliminary license agreement with its Turkish distribution partner ITEM for the manufacture of patented single-patient-use Cervical Guides in Turkey.
In return for the license and manufacturing rights for Cervical Guides in Turkey, GTHP will receive fees totaling $3,000,000 in 2018. In addition, ITEM will pay GTHP a royalty for each Cervical Guide made and sold exclusively in Turkey and ITEM will be obligated to purchase 600 LuViva Advanced Cervical Scans and produce 3 million Cervical Guides for the Turkish market over the next five years.
"ITEM has recently informed us that based on recent clinical studies, including the first published study indicating that LuViva is safe and effective for pregnant women, the Turkish Ministry of Health has approved LuViva for wide scale screening of cervical cancer," said Gene Cartwright, CEO of Guided Therapeutics, Inc. "Because of this, we now expect a more rapid penetration into the market and increased government reimbursement. These factors are contributing to the feasibility of a license agreement at this point in time."
ITEM's President, Zafer Yazici, noted that "ITEM is pleased to be in the forefront of the advance of women's health in Turkey and to help in the diagnosis and care of cervical cancer by providing such advanced technology and enabling the early detection of this serious disease."
According to the World Health Organization, cervical cancer is ranked as one of the most frequent cancers in women. Turkey has a population of approximately 26 million women above 15 years of age, who are at risk of developing cervical cancer. The current estimates indicate approximately 5500 new cases diagnosed and 1950 deaths annually in Turkey, making the control of this deadly disease a priority for the Ministry of Health.
November 28, 2017
3:13 pm ET
Guided Therapeutics Continues to Grow International Sales with New Order of Disposables from Indonesia and Letter of Intent for Distribution in India
BusinessWire
Guided Therapeutics has signed a Letter of Intent with DSS Imagetech (DSS) for potential distribution of LuViva in India. DSS is based in New Delhi, has 150 employees and distributes products from Abbott Labs and Olympus. DSS Image has committed to conducting further market research and Guided Therapeutics has committed to further training and travel with the
intent of signing a distribution agreement in or before Q2 2018.
The Company's LuViva Advanced Cervical scan is now beginning routine use in Indonesia. The Indonesian distributor has now ordered a total of 10 LuViva devices and 4,000 disposables in 2017.
According to the World Health Organization, Cervical cancer is ranked as the most frequent cancer in women in India. India has a population of approximately 365.71 million women above 15 years of age, who are at risk of developing cervical cancer. The current estimates indicate approximately 132,000 new cases diagnosed and 74,000 deaths annually in India, accounting to nearly 1/3rd of the global cervical cancer deaths.
Guided Therapeutics Signs Preliminary License Agreement with Turkish Distribution Partner Based on Ministry of Health Support for the LuViva Advanced Cervical Scan
8:45 am ET December 8, 2017 (BusinessWire)
Guided Therapeutics, Inc. (OTCQB: GTHP), the maker of a rapid and painless testing platform based on its patented biophotonic technology, announced today that it has signed a preliminary license agreement with its Turkish distribution partner ITEM for the manufacture of patented single-patient-use Cervical Guides in Turkey.
In return for the license and manufacturing rights for Cervical Guides in Turkey, GTHP will receive fees totaling $3,000,000 in 2018. In addition, ITEM will pay GTHP a royalty for each Cervical Guide made and sold exclusively in Turkey and ITEM will be obligated to purchase 600 LuViva Advanced Cervical Scans and produce 3 million Cervical Guides for the Turkish market over the next five years.
"ITEM has recently informed us that based on recent clinical studies, including the first published study indicating that LuViva is safe and effective for pregnant women, the Turkish Ministry of Health has approved LuViva for wide scale screening of cervical cancer," said Gene Cartwright, CEO of Guided Therapeutics, Inc. "Because of this, we now expect a more rapid penetration into the market and increased government reimbursement. These factors are contributing to the feasibility of a license agreement at this point in time."
ITEM's President, Zafer Yazici, noted that "ITEM is pleased to be in the forefront of the advance of women's health in Turkey and to help in the diagnosis and care of cervical cancer by providing such advanced technology and enabling the early detection of this serious disease."
According to the World Health Organization, cervical cancer is ranked as one of the most frequent cancers in women. Turkey has a population of approximately 26 million women above 15 years of age, who are at risk of developing cervical cancer. The current estimates indicate approximately 5500 new cases diagnosed and 1950 deaths annually in Turkey, making the control of this deadly disease a priority for the Ministry of Health.
November 28, 2017
3:13 pm ET
Guided Therapeutics Continues to Grow International Sales with New Order of Disposables from Indonesia and Letter of Intent for Distribution in India
BusinessWire
Guided Therapeutics has signed a Letter of Intent with DSS Imagetech (DSS) for potential distribution of LuViva in India. DSS is based in New Delhi, has 150 employees and distributes products from Abbott Labs and Olympus. DSS Image has committed to conducting further market research and Guided Therapeutics has committed to further training and travel with the
intent of signing a distribution agreement in or before Q2 2018.
The Company's LuViva Advanced Cervical scan is now beginning routine use in Indonesia. The Indonesian distributor has now ordered a total of 10 LuViva devices and 4,000 disposables in 2017.
According to the World Health Organization, Cervical cancer is ranked as the most frequent cancer in women in India. India has a population of approximately 365.71 million women above 15 years of age, who are at risk of developing cervical cancer. The current estimates indicate approximately 132,000 new cases diagnosed and 74,000 deaths annually in India, accounting to nearly 1/3rd of the global cervical cancer deaths.
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