Manhattan Scientifics, Inc., and Metallicum, Inc. Enters into an Overarching Agreement with a Non-Affiliated Third Party
May 07, 2019 at 05:13 pm
Share
On May 1, 2019, Manhattan Scientifics, Inc., and Metallicum, Inc. entered into an Overarching Agreement with a non-affiliated third party (“Third Party”), providing for an exclusive license by the Company of its ECAP technology to the Third Party for a term of 17 years unless terminated sooner, a sublicense by the Company to the Third Party of its rights under that certain Exclusive Field-of-Use Patent License Agreement dated January 5, 2009 entered with The Los Alamos National Laboratory for a term until the expiration of the last valid claim to expire of the patents pursuant to such agreement and the sale by the Company of three ECAP-C machines to the Third party. As part of the above license agreements, the Company will receive royalty payments, including minimum payments, based on a percentage of the Third Party’s sales.
Manhattan Scientifics, Inc. is focused on technology transfer and commercialization of these transformative technologies. The Company operates as a technology incubator. Its business model is to identify significant technologies; acquire them or the rights to them; secure the services of inventors, engineers or other staff who were instrumental in their creation; provide or contract for suitable work facilities, laboratories, and other aids where appropriate; prototype the technologies to demonstrate proof of principle feasibility; secure patent and or other intellectual property protection; secure early customers for product trials where feasible and appropriate; and commercialize through licenses, sales or cooperative efforts with other manufacturing and distribution firms. Its business model is based on licensing metals technology to metals manufacturers. Its technologies are in a development phase.
MANHATTAN SCIENTIFICS, INC. 
