Dec 20 2010
SanguiBioTech GmbH, Witten, Germany, and SanderStrothmann GmbH, Georgsmarienhuette, Germany, have established a joint venture company under the name of sastOmed GmbH. The respective agreements and articles were now signed, and recorded by a notary.
It is the purpose of the new company to obtain the CE mark certification of the Hemospray wound spray and to start producing, marketing and distributing the product on a global scale. To this effect, Sangui has granted sastOmed GmbH comprehensive and exclusive licenses on a global scale. Project management, financing and execution of the projected activities will be taken care of by the joint venture which will be headed by Michael Sander and Rene Strothmann, Managing Directors of SanderStrothmann GmbH, who in addition will contribute their experience in product development and their proven industry contacts and cooperations.
Under the terms of the contracts sastOmed will pay a milestone-based downpayment as compensation for the licenses and has granted Sangui royalties on all future sales of the product. The parties agreed not to disclose any further details of the agreements and articles.
Hubertus Schmelz, Managing Director of SanguiBioTech GmbH emphasized: "Since 2004, it was one of our key strategic goals to cooperate with an industry partner with the financial and operating power and expertise to successfully develop, promote, and market our key products. The joint venture and licensing agreement is a decisive breakthrough on our way to reaching our goals." SanguiBioTech GmbH will now be in the position to focus on its other cosmetics and wound management products as well as on long term projects such as the artificial oxygen carrier.
SanguiBioTech GmbH is a ninety percent subsidiary of Sangui BioTech International, Inc. (http://www.sanguibiotech.com)
Source:
Sangui Bio Tech International Inc.
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