Bio-AMD Inc. (fka BIAD)

[carp1]

Not picking on anyone in particular, but there were other traders promising articles and blog updates ect ect....

We have to realize that the deal with Sysmex can take up to 27 months to complete as stated in the annual 10-k stated here!!! This is why I'm "personally" being patient and adding during the trend down... GLTA

http://ih.advfn.com/p.php?pid=nmona&article=66122599

On December 17, 2014, we entered into a Master Agreement (the “Agreement”) with Sysmex Corporation (“Sysmex”) pursuant to which the parties will jointly conduct a feasibility study (the “Study”) for the potential development of our POC COAG system including a reader device with disposable test strips for PT-INR assays and potentially new future assays in the field of hemostasis (the “Products’). The results of the Study will form the basis on which we will negotiate with Sysmex the terms and conditions of possible future terms for further development of the Products (the “Research”). Under the terms of the Agreement, Sysmex will own all intellectual property developed by either party in connection with the Study, and will reimburse Bio-AMD Ltd. for costs and expenses incurred in connection with the project development. An expense advance of £642,067 (approximately $980,000) was made to Bio-AMD Ltd. on January 20, 2015. If Sysmex determines the feasibility study to be successful, further cost reimbursements will be made during the term of the Agreement linked directly to milestone criteria and deliverables to be agreed by both parties.



The Agreement will terminate after 27 months or upon completion of the Research, whichever is earlier, and may be terminated by (i) Sysmex upon one month’s notice to Bio-AMD Ltd. and (ii) Bio-AMD Ltd. upon three month’s written notice to Sysmex.



In addition, if Sysmex determines the Study to be successful, during the term of the Agreement, both parties will determine the terms under which Bio-AMD Ltd. will either manufacture the Product or license its intellectual property to allow the third-party manufacture of the Product, and for the terms under which Sysmex acquires the manufactured Product and its commercial resale.