Misonix inks $11m Chinese licensing, manufacturing deal for SonaStar

Misonix (NSDQ:MSON) said today it inked an $11 million licensing and exclusive manufacturing deal with Chinese Hunan Xing Hang Rui Kang Bio-Technologies for Misonix’s SonaStar product line in China, Hong Kong and Macau. Through the agreement, Misonix will receive $5 million in upfront technology license fees and stocking orders as well as minimum royalty payments from the sale of SonaStar products of $2 million per yer between 2019 and 2021 and additional royalties through August 2027. “Working with Misonix represents a unique opportunity to add an important technology to our suite of products. SonaStar is an advanced technology engineered to provide powerful and precise ultrasonic aspiration with maximum control and ease-of-use. We are dedicated to bring these important benefits to our markets in The People’s Republic of China, Hong Kong and Macau,” Hunan Xing Hang Rui Kang Bio-technologies chair Quan Li said in a prepared release. Through the agreement, Farmingdale, N.Y.-based Misonix said it will supply SonaStar products to Hunan Xing Hang Rui Kang Bio-Technologies at previously agreed to prices during the transition period before manufacturing begins, with reimbursement of tech transfer costs to Misonix of up to $1 million. “We look forward to working with the team at Hunan Xing Hang Rui Kang Bio-Technologies Co. to establish our SonaStar technology throughout The People’s Republic of China, Hong Kong and Macau. We will be focused on assisting...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Misonix Source Type: news