(CercleFinance.com) – Mauna Kea Technologies announces the signing of a strategic agreement with Tasly Pharmaceuticals to create a joint venture (JV).
Under the terms of the agreement, this joint venture will: (i) commercialize certain Cellvizio indications in China, (ii) develop and commercialize Cellvizio globally in the areas of neurology and neurosurgery, and (iii) manufacture Cellvizio units for the Chinese market.
The JV will use both existing distribution partners and its own marketing network in China to accelerate Cellvizio adoption.
In exchange for contributing licenses and other intellectual property rights to the JV, Mauna Kea will receive cash payments totaling $10 million (€9.94 million), a 44.1% stake in the JV, and a commitment to purchase minimum quantities of Cellvizio systems and probes for 5 years.
The JV will be majority owned and financed by Tasly and jointly managed by Tasly and Mauna Kea.
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