Migami, Inc. Profits $1.5 Million from Peptide Sublicense  
3/19/2008 11:22:13 AM

LOS ANGELES--(BUSINESS WIRE)--Migami, Inc. (OTCBB:MIGA) has agreed to sublicense its rights to several peptide molecules related to alpha-melanocyte-stimulating hormones to Migami Korea, Ltd. (MKL) for $1.5 million and anticipated royalties. The sublicense agreement specifies the territory as South Korea, and the expiration of the patents will effectively terminate the contract.