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Press Release Source: Grant Life Sciences Inc.
Grant Life Sciences enters into Memorandum of Understanding (MOU) with Chinese medical device company to manufacture and distribute Grant's point-of-care, rapid diagnostic tests in China and Hong Kong Wednesday September 13, 9:00 am ET "When finalized, this relationship will fit with Grant's new corporate strategy: to (1) acquire products and technologies via in-licensing activities and optimize these products and technologies (2) out-license them for further development and sales and (3) drive sales through our own established marketing channels." -Dr. Hun-Chi Lin, President and Chief Scientist, Grant Life Sciences
LOS ANGELES--(BUSINESS WIRE)--Sept. 13, 2006--Grant Life Sciences Inc. (OTC BB: GLIF - News) announced today that it has signed a Memorandum of Understanding (MOU) with GuongDong Kangermei Industry Development Co. Ltd. (GDK) to license the manufacturing and distribution rights of Grant's AccuDx line of rapid, point-of-care (POC) tests in China and Hong Kong. Below is a summary of the key terms of the MOU, which will be used as the basis for a definitive License and Collaboration Agreement between Grant and GDK:
* Grant agrees to license the manufacturing, distribution, and sales rights of certain AccuDx products for the territories of China and Hong Kong to GDK. The AccuDx products include POC tests to detect Hepatitis B and C, HIV 1 and 2, Dengue Fever, and heart attack markers Troponin 1 and Myoglobin. * Grant agrees to use GDK as an OEM (original equipment manufacturer) to produce AccuDx products for the markets outside of China and Hong Kong for an initial period of four years. * All products manufactured by GDK that are to be sold outside of China/Hong Kong shall be handled by Grant. * Grant will own an undisclosed percentage of equity in GDK. * GDK agrees that Grant will have one Director seat. * GDK agrees to pay Grant RMB$1.0 million upfront to facilitate technology transfer.
"When this MOU is finalized, we look forward to a long and mutually beneficial relationship between Grant and GDK," said Huok Xin, CEO of GDK.
"When completed, this relationship with GDK will fit with Grant Life Science's new corporate strategy: to (1) acquire new products and technologies through in-licensing activities and optimize these products and technologies; (2) out-license them for further development and sales; and (3) drive sales through our own established marketing channels," said Dr. Hun-Chi Lin, President and Chief Scientist, Grant Life Sciences. "We expect this relationship with GDK will enable Grant to gain access in China to a large consumer market for our technologies and products."
About GDK
GuongDong Kangermei Industry Development Co., Ltd. (GDK) is a medical device company located in GuongDong Province, China, and has established a manufacturing facility and distribution channel in China. GDK is principally involved in the manufacturing of medical instrument sets comprising single-use injection syringes and single-use blood and plasma transfusion sets.
About Grant Life Sciences
Grant Life Sciences Inc., a development stage company, engages in the research, development, marketing, and sale of diagnostic kits for the screening, monitoring, and diagnosis of diseases with emphasis on women's health, infectious diseases, and cancers.
Forward-Looking Safe Harbor Statement
With the exception of historical information, the matters discussed in this press release are "forward-looking statements" that involve a number of risks and uncertainties. The actual future results of Grant Life Sciences could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rates and unanticipated events such as terrorist activities, results of clinical trials, and market acceptance of the Company's products. In some cases, "forward-looking statements" can be identified by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," or other comparable terminology. Although Grant Life Sciences believes that the expectations reflected in the "forward-looking" statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such "forward-looking statements" will be achieved. Grant Life Sciences undertakes no duty to update any of the "forward-looking statements," whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such "forward-looking statements." For further risk factors associated with our Company, review our SEC filings.
Contact:
Grant Life Sciences Inc. Don Rutherford, 949-521-1232 CFO
Source: Grant Life Sciences Inc.
wadeinni
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Sorry dude but we already have a thread going for this one.
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Oops sorry bout that, I was just skimming the news streamer and saw that, didn't go straight to Allstocks message board to double check. My bad
Fuzzy1018
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any1 who missed the chance to get in this morning can get in now for some gains IMO
Fuzzy1018
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on the way back up, hopefully a good eod run
Fuzzy1018
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runnin' hard
Fuzzy1018
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good buying pressure right now
bksundar
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Another winner . Up 0.02 cents from the 0.05 levels.
Why do people concentrate on losers in this board when this is winning ? I can never answer that question ???
bksundar
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Still amazes me. Nobody wants a winner !!!!! Everbody wants SMMW, DDSI and all the bad losers more than winners like GLIF, UPDA etc .
What a bunch of loser we have nowadays in this board ???
Up to 0.083 in premarket ...
bksundar
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Still a winner.... Esp for people who bought in 0.03 range !!!
bksundar
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The stock goes thru the roof and nobody seems to care . Really I beleieve this board has lost its greatness compared to year back. At 0.09 almost !!!
plni
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Easy bk a lot of us dont post very much I heard you and Im still holding. hope for a little more monday.
bksundar
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0.094 high today...
JimSC
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quote:Originally posted by bksundar: The stock goes thru the roof and nobody seems to care . Really I beleieve this board has lost its greatness compared to year back. At 0.09 almost !!!
Glif has been a good play for me. However, a recent SEC filing indicated that the new A/S will be 1 Billion shares. So just be very careful, take your profit and run. All otc stocks are POS -- they are good for gamble only, get in and out as soon as you can.
bksundar
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This has been a great stock for me. Bought at the 0.028 and 0.03 levels. The gains just keep piling on. I just want to see how high it goes. I have sold some at the 0.06 levels...
visiblecat
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This stock looks goood im in . www.t h e sharkster.8m.com
bksundar
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High of 0.099 today.. Still a winner...
bksundar
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At 0.109 high now... A winner again....
bksundar
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Is it going to break 0.109. We shall wait and se...
bksundar
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I am now out off GLIF. Thank you. You made me some money I can be proud of ...
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