MabCure, Inc. Receives U$500,000.00 Licensing Fee as Well as 12.5% Ongoing Royalty for Its Prostate Cancer Diagnostic Technology
Published: Nov 23, 2011
NEW YORK--(BUSINESS WIRE)--MabCure, Inc. (OTCBB: MBCI), a leading developer of antibody-based diagnostics and treatments for ovarian and prostate cancer, today announced that it has signed a license agreement with Biotech Investment Corp. (“Biotech”), a Nevada-based biotechnology investment company. The agreement is an exclusive worldwide license to certain MabCure hybridoma clones producing antibodies against prostate cancer. In addition to the license fee paid to MabCure, Biotech will issue to MabCure 15% of its outstanding shares on a fully diluted basis and will pay a royalty of 12.5% on revenues.