Spherix, Fullife Healthcare Sign Supply, License Pact for D-Tagatose
Spherix Incorporated (Nasdaq: SPEX) and Fullife Healthcare Pvt. Ltd. – an innovation-driven company focused on bringing unique healthcare solutions to India – today announced the signing of a supply and license agreement for the use of D-tagatose in nutraceutical products in India.
Under the terms of the agreement, Spherix has granted Fullife an exclusive, royalty-bearing license in India for use of Spherix's clinical data and proprietary know-how to support marketing and dosing of the D-tagatose that Spherix will also be supplying. The D-tagatose will be used in food or cosmetic products that may provide health benefits in return for a fixed royalty on gross sales. Spherix will provide bulk D-Tagatose to Fullife and Fullife will be responsible for all testing and development of products containing D-Tagatose for sale in India. Financial terms of the agreement were not disclosed.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.