I now find that test samples were being run in May of this year using the chemoluminescence format that Moro states is compatible with the mass analyzers such as the Architect system. They have been using the test for 6 months and if not on an analyzer, at least with a spec 20. How long does it take the experts to say if it is feasible or not?
Below is the summary of the deal with Abbott.
"As consideration for the license, Abbott paid Biocurex an initial licensing fee
of $200,000.
Abbott will make additional payments to Biocurex:
Following Abbott's notification to Biocurex of Abbott's successful completion of its feasibility review
Following Abbott's submission to the FDA of a Pre-Market Approval ("PMA") application (or appropriate equivalent submission) for the commercial sale of
any products incorporating the licensed technology in the United States; and
Upon the FDA's approval of Abbott's PMA application (or appropriate equivalent submission) for the commercial sale of product or (ii) Abbott's first
commercial sale of product, whichever occurs first.
Commencing with the year ending December 31, 2007 and continuing each subsequent calendar year, Abbott will pay annual minimum royalties to Biocurex.
Abbott will also pay Biocurex a royalty for each product sold by Abbott and 20% of any upfront sublicense fees received by Abbott for the sublicense.
Abbott may terminate the license upon 90 days written notice to Biocurex."
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