SCN RECEIVES USD 2.5 MILLION IN LICENSE FEE FOR IMMULINA

Report this content

(NGM:SCN)

Scandinavian Clinical Nutrition AB (SCN) has now received the final license fee payment from the company’s sales partner for Immulina, who thereby fulfils its USD 2.5 million license fee obligation to SCN for maintaining world-wide exclusivity for the product.

SCN has granted the American company PhytoLab Solutions, Inc. a world-wide exclusive license for sales of Immulina through a partnership agreement. SCN sells Immulina to PhytoLab Solutions on a regular basis with a good profit margin.

The agreement also includes an option for PhytoLab Solutions to buy the SCN subsidiary containing the exclusive rights to Immulina, for USD 13 million before December, 2008.

To maintain exclusivity, PhytoLab Solutions has agreed to pay a license fee of USD 2.5 million in total to SCN. The last payment of USD 450,000 has now been received by SCN, and PhytoLab Solutions has thereby fulfilled its license fee obligations towards SCN.

SCN has re-licensed the rights to Immulina from PhytoLab Solutions to commercialize Immulina on selected markets in Europe, Russia, CIS, Turkey, South Africa and Brazil.

For further information, please contact:

Ulf Söderberg, CEO, us@scnutrition.com, +46 708 13 22 81

Anders Struksnes, Senior Vice President, as@scnutrition.com, +47 911 98 942

Scandinavian Clinical Nutrition AB (publ) works in R&D and sales of scientifically documented products within the field of nutrition (nutraceuticals). Established in 2006, SCN maintains a product portfolio with established trademarks, such as CUUR, Membraseven, Coldizin, Immulina and Ledactin. Core competence and strategic alliances, within both R&D and sales, in combination with innovative and scientifically documented products, create the right conditions for profitable growth both in Sweden and in the company’s export markets. The shares of SCN are traded under the ticker “SCN” on Oslo Axess (www.osloaxess.no) and NGM Equity (www.ngm.se).

Documents & Links