A Medical Device Daily
Cord Blood America (CBA; Los Angeles), an umbilical cord blood stem cell preservation company, reported completion of an asset purchase agreement with Cryobank (also Los Angeles) for Oncologic and Reproductive Donors (Middletown, New York).
CBA is acquiring about 750 umbilical cord blood samples which had been banked with Cryobank.
CBA will assume these customer contracts, as well as three cryogenic freezers that are being used to store these umbilical cord blood samples, for cash and unregistered shares of Cord Blood America's common stock.
“This purchase increases the number of revenue producing contracts we oversee by about 53% and helps build a healthcare influencer channel into this area of New York for our company,“ said Matthew Schissler, CBA chairman and CEO.
NanoLogix (Sharon, Pennsylvania) reported that it has signed a definitive agreement to sell part of its Medical Test Kit patent portfolio and license other key patents to Nutra Pharma (Boynton Beach, Florida).
NanoLogix will sell 11 key test-kit patents to Nutra Pharma in consideration for that company's entire NanoLogix common stock holdings, 4.5 million shares, plus a 6% royalty on the gross sales of the subject products.
Based upon NanoLogix's closing price on Tuesday of 14 cents, total consideration dollar value for the sold patents is a minimum of $630,000. The terms also include a license back, relative to NanoLogix's current pursuits.
Additionally, NanoLogix has agreed to license 18 other key test-kit patents to Nutra Pharma in consideration for a 6% royalty on the gross sales of the products based on the licensed technology and an option to purchase 1 million options of Nutra Pharma restricted common at 20 cents a share.
The agreement enables NanoLogix to continue its use of its retained patents for all future technology development unrelated to medical diagnostic test kits, and successfully returns about 4.5 million shares to the company's treasury.
Nutra Pharma is a biopharmaceutical company specializing in the acquisition, licensing and commercialization of pharmaceutical products and technologies for the management of neurological disorders, cancer, autoimmune and infectious diseases.