BASEL, Switzerland, Feb. 11 /CNW Telbec/ - Neuro-Biotech Corp.
(PINKSHEET: MRES) (OTCQB: MRES). The offer the Company received
yesterday was a surprise, as we did not consider the reception of such
an offer at this stage of our business plan. During the due diligence
period, we must ensure that the two licensees that we currently have
and those with whom we are negotiating agreements align with the
business plans of all parties involved.
Even though its first goal was to look for possible licensees in the 27
countries of the European Union, for the simple reason that all medical
expenses are covered by the government, it was a Russian based company,
Credo-TM, which signed the first license agreement, followed by a few
weeks later by an Israel based company.
Each of the licenses currently in negotiations will respect
pre-established terms and conditions based on the ones agreed by the 2
other licensees, with a 10 years contract and a minimum purchase of
500,000 units per year, generating approximate revenues of $27,000,000
per year from every license sold. The 10 years terms has been commonly
agreed by the parties in the first agreement, based on the expiry date
of the technology patent scheduled for 2022.
Finally, the Company would like to remind its shareholders that during
the first commercialization phase of SymPath™, 75,000 units were sold
and delivered to Egypt. This first order was immediately followed by a
re-order for another 75,000 units. However, this order was never
completed. The Company intends from now on to focus on avoiding such
situation by creating partnerships through sublicenses throughout the
For more information on Neuro-Biotech Corp or to contact a company
representative, please visit: www.neuro-biotechcorp.com
FORWARD LOOKING STATEMENTS
This release contains statements that are made pursuant to the Safe
Harbor Provisions of the Private Securities Litigation Act of 1995.
Certain statements in this press release may contain words such as
"anticipates," "believes," "could," "expects," "intends," "may,"
"projects," "targets" and other similar language that is considered
forward-looking statements. These forward-looking statements are
subject to certain risks and uncertainties and persons reading this
release are cautioned that such statements are only predictions, and
that the Company's actual future results or performance may be
materially different. The Company disclaims any intention or obligation
to update or revise forward-looking information, whether as a result of
new information, future events, or otherwise, could cause the company's
actual results to differ materially from those indicated in any
SOURCE MARC-ALEXANDRE OLLU
For further information:
Dr. Claude Poulin
41 61 500 05 16