Institutes of Biomedical Research Corp (MRES)

[StockHobit]

Huge Contract Worth 275 Million

Tuesday 18, January 2011
NEURO-BIOTECH CORP. ANNOUNCES THE SIGNING OF ITS FIRST EXCLUSIVE LICENSE AGREEMENT WITH CREDO-TM CORP. FOR DISTRIBUTION OF ITS PRODUCTS IN THE RUSSIAN FEDERATION
BASEL, Switzerland, jan. 18, 2011, Neuro-Biotech Corp. (OTCQB: MRES) announces that it has concluded a Business Development Agreement with Credo-TM, a Russian company.
The Agreement provides for an exclusive right to distribute all Neuro-Biotech proprietary blood analysis kits and NeuroCeuticals™ in territories such as Russia, Belarus, Ukraine and Kazakhstan. Furthermore this agreement binds Credo-TM to a minimum yearly order of 500,000 test units for a term of 10 years. Both parties have agreed on an initial price of $55.00 USD per unit for its initial launch. The pricing for subsequent years may be subject to change.