After over 12 months of discussions with several possible JV partners Sensodetect AB (publ) today signed a term sheet with Beijing Haierxi Medical Technology Co. Ltd (BHMT). A termsheet that will guarantee payments to SensoDetect AB totaling of a minimum 3,4MSEK for the first 12 months and a procentage profit share after commercialisation for a market valued to 9BSEK. By this the company also announces that its CEO will fly to China in the beginning of December 2024 to enter into final negotiations and meet with government officials.
Key Highlights of the Joint Venture term sheet
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Formation of WEPA Co., Ltd.: The joint venture will be established as a limited liability company in Shenzhen, China, with the tentative name WEPA Co., Ltd., subject to industrial and commercial approvals.
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Exclusive Rights: The joint venture will have exclusive commercialization rights for ADHD diagnostics and medication within the Greater China Region, including Mainland China, Hong Kong, Macau, and Taiwan.
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Expansion of Research: The joint venture will also conduct research into the application of the BERA technology for conditions such as stroke, brain plasticity, and depression.
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Governance and Operations: The joint venture’s board of directors will include two members appointed by SensoDetect and three by BHMT. Both parties will retain veto rights over major decisions, ensuring collaborative governance. The JV will initially focus on obtaining regulatory approvals, followed by the development and marketing of the BERA technology across the region.
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Revenue Model and Licensing: The agreement outlines an immediate start, after Joint Venture signing, of a phased licensing fee structure for the use of BERA technology. The payments, totaling a minimum of 3,4MSEK for the first 12 months, are set to increase as the JV progresses toward commercialization milestones. After commercialization the JV will also include a % revenue model including profit payouts to SensoDetect AB at a minimum price per device and test, plus a profit share for the yearly software license profit. Additionally, the JV will receive distribution rights for the SensoDetect® BERA box, enabling comprehensive support for customers through SensoDetect’s Sensolytics Consumer Portal.
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Strategic Vision: This partnership marks a significant step in SensoDetect’s global strategy to revolutionize psychiatric care through objective and efficient diagnostic tools. The collaboration with BHMT underscores the potential of SensoDetect® BERA technology to transform mental health diagnostics in one of the world’s largest healthcare markets that the company values to be 9BSEK. Additionally, the Joint Venture will also expedite government approvals (NMPA) for the service as well as vital government financial support.
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Arbitration: Any disputes will be resolved under Singapore International Arbitration Centre (SIAC) rules, ensuring a streamlined process for resolution.
* The Term Sheet will not give rise to any legally binding obligation on the part of any negotiating party until definitive agreements are signed and delivered by all parties.
Denna information är sådan som SensoDetect AB är skyldigt att offentliggöra enligt EU:s marknadsmissbruksförordning (EU nr 596/2014). Informationen lämnades, genom angiven kontaktpersons försorg, för offentliggörande 2024-11-27 16:27 CET.
För ytterligare information, vänligen kontakta:
PA Hedin, VD Sensodetect AB
+46 (0)73-068 64 20
pa.hedin@sensodetect.com
SensoDetect AB är ett Med Tech AI-företag noterat på Spotlight stock market. Företaget grundades i Lund 2005, baserat på mer än 30 års forskning inom klinisk psyko akustik vid Institutionen för Neurovetenskap vid Lunds universitet. Inledningsvis låg fokus på patienter med schizofreni, då det är en sjukdom där hörselhallucinationer är ett vanligt symtom, men idag erbjuder företaget ett flertal andra tjänster inom produktområdena diagnostik, medicinering och hälsa. Produkterna används inom både privat och offentlig vård som komplement till andra observationer vid ADHD, schizofreni och autismutredningar, vid mätning av läkemedelseffekt samt vid screening av hörsel. SensoDetects unika och globalt patenterade teknik minskar den ekonomiska påverkan på hälso- och sjukvården samt samhället och ger patienter och dess anhöriga ett snabbare och säkrare resultat.
Mer info på https://www.sensodetect.com/