Replies to post #72523 on Decision Diagnostics Corp (DECN)

[Johnny_C]

it looks like ABBOTT is entering antibody space, doesn't look like any other Big Pharm is jumping on

[Smith Sam]

Not worth $34k? Based on what? How do you come up with this valuation?

[Hopefull17]

Jelly Bean, what ever happened to below PR?

DECN Chooses to License its Genultimate TBG Technology to Perfectly Situated Partner, Anticipates Agreement Will Yield Revenue Stream in Excess of $100 Million Over 5 Year Term, Company to Retain its Intellectual Property

Thursday, August 1, 2019 8:55 AM

Company Also Announces That at the End of 2Q 2019 All Legal Issues Brought Against Shasta Technologies Were Settled, DECN Will Realize Significant Gain in 2Q 2019 Period

LOS ANGELES, CA / ACCESSWIRE / August 1, 2019 / Decision Diagnostics Corp. (OTC PINK:DECN) is a 17-year old, diabetes-focused bio-technology development firm, manufacturer, quality plan administrator, FDA registered medical device customer support organization, and exclusive worldwide sales and regulatory process agent for the GenUltimate! ("Sunshine") diabetes test strip, the internationally launched GenSure! ("Feather") diabetes test strip, and its GenChoice! ("Ladybug") test strip now in FDA 510(k) prosecution. The company also markets the PetSure! test strip for the diabetic testing of dogs and cats, a diagnostic specifically designed to run on the market leading Zoetis Alpha Trak meter system and the GenUltimate! 4Pets Test strip and Avantage! meter a proprietary testing product for dogs, cats and horses, and the panacea GenUltimate! TBG ("Dragonfly") diabetes testing system, now awaiting a clinical trial slot in Korea.
After a 90-day process where a number of propositions for the company’s GenUltimate TBG technology emerged, some solicited, some not, DECN has chosen to complete an arrangement whereby it will license its GenUltimate TBG technology to a single party on an exclusive sales basis. The license agreement as outlined will not include a transfer of the DECN Intellectual Property. The structure of the agreement between the partners will include a significant up-front payment for the exclusivity rights alone as well as healthy license fees that over a 5-year period will realize the full potential of the technology and product.

Keith Berman, CEO of DECN, commented, “The Company received a total of six different transaction structures inclusive of outright sale of the technology, arrangements that included non-compete covenants, two earn-out propositions, and eventually two licensing agreements. We ultimately chose the licensing agreement that left the company with the freedom to complete development and then sell our in-development GenChoice TBG and upcoming CGM TBG products.”
DECN will provide a detailed discussion of the company’s strategic decisions in the upcoming 2Q 2019 Quarterly Report, due in approximately two weeks. The company will also update again on the litigation with Johnson & Johnson.
Mr. Berman continued, “The licensing agreement for the GenUltimate TBG technology, wich includes the highly precise test strip, and the meter, which we call the Precise meter, is a major strategic milestone in the company’s history. Not only will we reap the rewards of an expected $100+ million agreement, but in doing so we will have changed the focus and business direction of the company from being a developer and sales organization specializing in the alternative diagnostics products market, what some call the “me-too” space, to a specifications provider and manufacturer of cutting edge diagnostics of our own invention. GenUltimate TBG is just the first of our enhanced products and technologies.”
DECN further reports that their new partner is a world renowned organization with multiple products in the diabetes space and with multiple companies under its banner. The company will make all applicable disclosures at an appropriate time -- but soon.
Mr. Berman concluded, “In addition to the big events in the company’s near term future, we have also taken care of other important business. In late June 2019 we accepted settlement with Shasta Technologies LLC that had involved litigation in three states; California, Minnesota and Pennsylvania. As a result of this global settlement and perpetual releases, DECN will now be able to account for our 2014 acquisition of the Shasta GenStrip, that we subsequently rebranded as GenUltimate. This settlement and perpetual release will give rise to a gain in 2Q 2019 and also an addition to the carrying value of our intellectual property portfolio. We await the accounting treatment, which is complicated, but because it also involves approximately $660,000 of post 2014 development and intellectual property and hard asset acquisitions associated with the development of our GenUltimate. The entire series of entries should result in gains in excess of $2.5 million. Not surprisingly these gains were not lost on our prospective licensing partner.”

[Hopefull17]

Jelly Bean, here's another Press Release that wound up on the "side of a milk carton", IMO. More mysteries available on the "Nancy Drew goes to DECN" series ..... ROTF! Those who do not learn from the past often repeat it!

After Disclosing the Choice of Licensing Partner Last Week, DECN Receives Two New Accretive Propositions for Its Panacea GenUltimate! TBG

Thursday, August 8, 2019 8:55 AM

Company in the Sights of a Big Box Looking to Replace a House Brand(s) and an International Healthcare Entity Looking for a Worldwide Three Party Agreement

LOS ANGELES, CA / ACCESSWIRE / August 8, 2019 / Decision Diagnostics Corp. (OTC PINK:DECN) is a 17-year old, diabetes-focused bio-technology development firm, manufacturer, quality plan administrator, FDA registered medical device customer support organization, and exclusive worldwide sales and regulatory process agent for the GenUltimate! ("Sunshine") diabetes test strip, the internationally launched GenSure! ("Feather") diabetes test strip, and its GenChoice! ("Ladybug") test strip now in FDA 510(k) prosecution. The company also markets its PetSure! test strip for the diabetic testing of dogs and cats, a diagnostic specifically designed to run on the market leading Zoetis Alpha Trak meter system and the GenUltimate! 4Pets Test strip and Avantage! meter a proprietary testing product for dogs, cats and horses that has been licensed to Fetch 4Pets, and the panacea GenUltimate! TBG ("Dragonfly") diabetes testing system, now awaiting a clinical trial slot in Korea.
After disclosing the choice of a licensing partner on August 1, 2019, DECN received:
On August 2, 2019, a new proposition from one of the original bidders in the process, where the bidder changed their proposition from an acquisition offer for GenUltimate TGB technology and the resulting products, to a non-exclusive licensing agreement of the same technology. This latest proposition was unsolicited. The proposition emerged from an entity in a channel of the industry known as “Big Box.” This revised proposition does not conflict with any of the known terms from the prospective partner disclosed first on August 1, 2019. If appropriate, terms will be disclosed in the upcoming Quarterly Report for 2Q 2019.

And on August 5, 2019 the company was contacted by a second original bidder, this time an entity originally solicited by the company. This proposition was delivered during a long conference call. If a deal is struck with this proponent it will be more complicated and more wide-ranging. One point discussed with this proponent was a three-way multiple product and technology licensing arrangement that will include the company’s chosen licensing partner. The company awaits receipt of the hard copy proposition.
Keith Berman, CEO of DECN, commented, “News releases are announcement vehicles and not the best avenues to discuss business opportunity. However, given the enormity of our upcoming license deal for both the GenUltimate! and GenUltimate! TBG test strip and the GenUltimate! Precise meter, when cleared by the FDA, and anything else that may emerge from the latest propositions, we felt it best to discuss salient details, especially for those interested parties that do not dig down into our Quarterly Reports. ”
DECN further reports that all prospective partners are renowned organizations, all with products and properties in multiple channels, and all players, past and present, in the diabetes space. Further, the company contemplates the GenUltimate! TBG licensing agreements to be made up of three components:
A cash payment for provisions of stand-still during the negotiation of a Definitive Agreement
A larger cash payment for exclusive rights and term
On-going and handsome per-box or per unit fees for a four or five year term
Mr. Berman concluded, “The completion of the licensing agreement for the GenUltimate TBG technology, which includes the highly precise test strip, and the meter, which we call the Precise meter, is a panacea event in the company’s history. Not only will we reap the rewards of an expected $100+ million 5-year agreement, but it appears that there is substantial interest from a “big box” looking for a certain house brand replacement (or upgrade), and even more recently, interest from a certain international party eyeing a multi-party relationship. There will be much to discuss on August 14, when we post our 2Q 2019 Quarterly Report. ”