Davion grants Global Manufacturing and Distribution Licence of its BreastCheck ™ home test for Breast Anomalies to NeuRX Health Inc for $120m USD together with ongoing royalty payments.
09 Nov 2023
License out/in
Davion Healthcare Plc, a leading medical device manufacturer, is pleased to announce that it has granted a Global Manufacturing and Distribution Licence for Davion’s non-invasive BreastCheck ™ home test for Breast Anomalies including Breast Cancer, to Rhode Island (USA) based NeuRX Health Inc.
Both parties have signed binding headline terms with completion of the full licence to be filed early January 2024. The agreement sees NeuRX paying Davion the sum of $120 Million USD for the licence, together with ongoing royalty payments on global sales of BreastCheck ™.
BreastCheck ™ is a non-invasive home test for Breast anomalies, including Breast Cancer. The home test takes just fifteen minutes, and the results are immediate. It is registered as a Class1 Medical Device with regulatory authorities in the USA (FDA), Europe (CE) and the United Kingdom (UKCA). BreastCheck ™ will be available towards the end of the first quarter 2024 internationally, from Pharmacies, larger Retail Outlets and Online.
“We are thrilled to appoint NeuRX Health Inc as our global manufacturer and distributor for this important product” said Jack Kaye Davion’s CEO. “The team at NeuRX have extensive experience and expertise in both manufacturing and distribution internationally of medical products”
This licencing agreement follows on from our recent announcement of a $30 million IPO fundraising round alongside a NADAQ listing of the company’s ADRs through The Bank of New York Melon, and further supports this process.
NeuRX Health Inc CEO Robert Hainey said “We are enthusiastic about the prospects this global licencing agreement gives us”. “Davion’s BreastCheck ™ product is a global first, for which we expect there will be great demand internationally.”
Davion looks forward to a successful IPO and subsequent listing on the NASDAQ stock exchange, which it anticipates will (subject to market forces) take place in the first quarter of 2024. The company remains committed to delivering exceptional value to its shareholders whilst driving innovation within the medical sector.
THE DIRECTORS OF THE ISSUER ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT
Press inquiries please contact:
Davion Healthcare Plc
Munro Forbes – Media Relations Manager
E: munro.forbes@davionhealthcare.com
Editors Note:
Davion Healthcare – transforming the ordinary into the extraordinary
“Our mission is to create and manage an environment for the secure development of new medical devices.
With a current focus on accessible products available for self-use in the comfort of your own home utilising smart technology interfaces, we are committed to empowering individuals to take control of their health and well-being by providing them with the tools they need to detect potential health issues at an early stage.
We just happen to make great medical devices that can make a difference in people's lives.”
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