Oculus Innovative Sciences Receives $5.1M Licensing Fee

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Oculus Innovative Sciences
OCLS
, innovator and developer of products based upon the Microcyn® Technology platform, announced today that the company has received payment of $5.1 million per the licensing agreement executed on August 9, 2012 with More Pharma, a 300-plus person pharmaceutical company with a commercial presence in Mexico, South/Central America and the Caribbean Under the terms of the partnership, More Pharma agreed to pay Oculus an upfront $5.1 million fee for the exclusive licensing of Oculus' Microcyn-based human healthcare products in Mexico, South/Central America and the Caribbean. The transition of the marketing and sales effort in Mexico to More Pharma was initiated immediately, while expansion into other South/Central American and Caribbean countries is dependent upon securing the needed regulatory clearances in those regions. More Pharma will oversee and underwrite all costs for these regulatory review and approval efforts.
Posted In: NewsContracts
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