Advitech Inc. (TSX VENTURE: AVI) announces today the signing of a revised agreement with Jouan Biotechnologies covering the royalties to be paid by Advitech to Jouan Biotechnologies on the international sales of Dermylex™. The initial licensing agreement, signed in 2003, stipulated minimum royalty fees payable to Jouan Biotechnologies by Advitech for the first three years of the agreement, including additional royalty fees corresponding to net sales percentage generated by Advitech when commercializing Dermylex™. In August 2006, Advitech finalized the minimum royalty fees payment and negotiated a new agreement ending in 2013, reducing the percentage on the minimum royalty fees on Dermylex™ sales to be paid to Jouan by Advitech. Advitech has also retained the possibility of extending the duration of the agreement until the expiry date of the last Foreign Patent underlying the licensed technology by Jouan in favour of Advitech.
