Biofield Corp. Signs Master License Agreement with the MacKay Group to Distribute, Manufacture, Develop and Commercialize the Biofield Breast Cancer Diagnostic System (BDS)

PHILADELPHIA--(BUSINESS WIRE)--Biofield Corp. (OTC Bulletin Board: BZET), announced today that on July 27, 2007 it signed a master license agreement granting the MacKay Group Limited (MKG) an exclusive, sublicensable royalty-bearing license to, among things, distribute, manufacture, develop, and otherwise commercialize Biofield’s breast cancer technology worldwide. Under the Agreement, MKG assumes from Biofield the sole responsibility and expense to market, manufacture, further technically and clinically develop, and otherwise commercialize the technology. In addition, MKG assumes from Biofield the sole responsibility and expense to secure additional regulatory approvals and to conduct additional clinical trials and R&D. MKG will further make commercially reasonable efforts to further develop the technology for screening, as opposed to purely diagnostic, purposes and for cancers other than breast cancer.