Easton Pharmaceuticals, BMV Medica sign JV for rights to distribute diagnostic test in Mexico
Easton Pharmaceuticals has signed a 50:50 revenue sharing joint partnership with BMV Medica for an exclusive distribution agreement with Israel-based Commen Sense Ltd. to bag the exclusive distribution rights of world patented woman’s diagnostic vaginal infection test VS-SENSE-OTC and VS-SENSE PRO in Mexico. The devices are designed for detection of Bacterial Vaginosis (BV) and Trichomonas. The devices are patent protected globally with approximately 12 years remaining on the patent life. As per the agreement terms, Easton paid an undisclosed amount of cash to BMV to secure the rights and issued 50 million restricted common shares to be released on condition that a minimum of USD 1,000,000 in sales be generated from the products. The devices are currently marketed in the U.S. and Canada and have also received the CE approval and will be marketed soon in EU. Easton and BMV have applied for regulatory approval of devices in Mexico. Easton and BMV are also currently negotiating with Common Sense to bag the distribution rights for the rest of the Latin American market. Easton and BMV are anticipating a minimum profit margin of 100% based on the fact that 1 in 3 women will at some point in their lives develop Bacterial Vaginosis (BV) and Trichomonas.