LONDON (ShareCast) - (ShareCast News) - Advanced Medical Solutions, the surgical and advanced wound care specialist company, and Organogenesis have entered an out-licensing agreement on a US patent regarding a collagen-based wound dressing containing Polyhexamethylene Biguanide, it emerged on Thursday.
Advanced said that, under the terms of the agreement, Organogenesis, a commercial leader in regenerative medicine was granted an exclusive license in the United States to the Patent in exchange for a minimum payment of £2.5m.

Those funds, the company added, would be recognised in 2017, as well as the minimum royalty revenue of $1m for each of the financial years ending on 31 December 2018 and 2019.

This forms part of an ongoing royalty that will be payable to AMS on the net sales from the Licensed Product for the life of patent which will expire in October 2026, the company said.

Chris Meredith, chief executive officer of Advanced Medical Solutions, said: "We are delighted to sign this agreement with Organogenesis, a commercial leader in regenerative medicine, focused in the areas of bio-active wound healing and soft tissue regeneration. The Group's ability to out-license our patent technologies is another endorsement of the quality of our innovation and we are confident that our partner will be able to use the AMS patent in order to help patients across the US."

For his part, Gary S. Gillheeney, Sr., President and CEO of Organogenesis Inc., said: "We are very pleased to secure an exclusive license to this patent in the United States. This is an important agreement for Organogenesis that underscores our commitment to offering a comprehensive portfolio of products that addresses patient needs across the continuum of care."

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