Guided Therapeutics, Konica Minolta extend product licensing agreement for third year
For a third consecutive year, Guided Therapeutics (Norcross, GA) has extended its licensing agreement with Konica Minolta (Tokyo, Japan) to co-develop a noninvasive biophotonic testing platform for early detection of Barrett's esophagus, which can precede esophageal cancer.
Under the terms of the agreement, Guided Therapeutics will be paid approximately $2 million, including a licensing fee over the course of the next eight months, subject to certain milestones, by Konica Minolta Technology Center. As part of the focus in the coming year to develop a product for detection of esophageal cancer, Guided Therapeutics will retain all rights to lung and biliary cancer that were previously shared.
The Barrett’s esophagus product being developed with Konica Minolta is based on the company’s noninvasive cervical disease detection technology, the LuViva Advanced Cervical Scan, which is undergoing FDA premarket approval and CE Mark review.
Mark L. Faupel, Ph.D., Guided Therapeutics' president and CEO, notes that the results of the company's recently completed feasibility study should lead to a larger patient multicenter clinical study in the near future.
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