- This new agreement is concluded for a term of three years; it follows the collaboration agreement concluded on February 16th, 2012
- This new agreement includes modification of the CRO consideration clauses regarding businesses contracted by MEDIAN Technologies
MEDIAN Technologies (ALMDT.PA), a leading medical imaging solutions and service provider for image interpretation and management in oncology, today announces the signature of a new collaboration agreement with the world’s largest CRO (Contract Research Organization) for a term of three years. This new agreement, signed on May 3rd, 2016, follows the previous agreement concluded on February 16th, 2012.
The renewal of this collaboration agreement includes a modification of the CRO consideration regarding businesses contracted by MEDIAN Technologies, which is more adapted to the context and defined after a collaboration which has started more than four years ago.
It is recalled that, on February 16th, 2012, MEDIAN Technologies concluded and announced through two press releases the signature of a collaboration agreement with the world’s largest biopharmaceutical development services provider (CRO – Contract Research Organization) as its partner. This previous agreement allowed the partner, in case of exercise of its shares warrants, which were solely exercisable through set-off of its receivables held against the Company, to hold up to 15% of the share capital of MEDIAN Technologies. The parties concluded an agreement on May 3rd, 2016 to cancel this scheme: the parties have decided to cancel all the shares warrants held by the partner since none of them has been exercised.