TROY, Mich., Sept. 18 /PRNewswire-FirstCall/ -- Somanetics Corporation (Nasdaq: SMTS - News) today announced that it has entered into a Contract Development and Exclusive Licensing Agreement with NeuroPhysics Corporation of Shirley, Mass. The agreement provides Somanetics with feasibility research, contract development and consulting services and certain ownership and licensing rights to intellectual property and technical knowledge associated with several novel near-infrared spectroscopy ("NIRS") and imaging technologies and products under development at NeuroPhysics. Somanetics will pay an initial license fee of $1 million, monthly license fees beginning April 1, 2008 for products continuing under development at NeuroPhysics and a royalty on any future sales.
