SensoDetect and Beijing Haierxi Medical Technology Co., forms a strategic Joint Venture in China

Sensodetect AB (publ) has signed a joint venture agreement with Beijing Haierxi Medical Technology Co. Ltd (BHMT). The joint venture will guarantee payments to SensoDetect AB totaling a minimum of 3,4MSEK for the first 12 months and a minimum of 4,8MSEK per year until NMPA approval. After commercialization a percentage profit share will be applied, with a minimum of 6MSEK, for a market valued at 9BSEK. 

" I am extremely happy that we reached an agreement on terms for this joint venture. This partnership marks a significant step in SensoDetect's global strategy to revolutionize psychiatric care through objective and efficient diagnostic tools. The collaboration with BHMT underscores the potential of SensoDetect® BERA technology to transform mental health diagnostics in one of the world's largest healthcare markets that the company values to be 9BSEK. The Joint Venture will also expedite government approvals (NMPA) for the service as well as vital government financial support. Finally, it creates stability in terms of income for SensoDetect AB a possibility to produce new technology and standards with one of Chinas most respected and renowned Neurosurgeon, Dr Liu. " säger VD Per-Anders (PA) Hedin. 

Key Highlights of the Joint Venture agreement 

Formation of WEPA Co., Ltd.: The joint venture will be established as a limited liability company established in P. R. China, with the tentative name WEPA Co., Ltd., subject to industrial and commercial approvals.  

Ownership Contribution: The company will be set up with a capital infusion of 40MRMB over a five (5) year period. 

Exclusive Rights: The joint venture will have the exclusive right to commercialize the BERA Technology within the Territory for ADHD and medication. 

Expansion of Research: The joint venture will further have the exclusive right to conduct research activities in the Territory on the application of the BERA Technology for ASD, stroke, plasticity, depression and any other nervous system diseases and mental system diseases. 

Governance and Operations: The joint venture's board of directors will include two members appointed by SensoDetect and three by BHMT. Both parties will retain veto rights over major decisions, ensuring collaborative governance. The joint venture will initially focus on obtaining regulatory approvals, followed by the development and marketing of the BERA technology across the region. 

Revenue Model and Licensing: The agreement outlines an immediate start, after company registration, of a phased licensing fee structure for the use of BERA technology. The payments, totaling a minimum of 3,4MSEK for the first 12 months, are set to increase as the joint venture progresses toward commercialization milestones (with minimum of 4,8MSEK per year until NMPA approval). After commercialization the joint venture also includes a % revenue model including profit payouts to SensoDetect AB with a minimum of 6MSEK per year. Additionally, the joint venture will receive production and distribution rights for the SensoDetect® BERA Hardware, enabling comprehensive support for customers through SensoDetect's Sensolytics Consumer Portal.  

Arbitration: Any disputes will be resolved under Singapore International Arbitration Centre (SIAC) rules, ensuring a streamlined process for resolution. 

Denna information är sådan som SensoDetect AB är skyldigt att offentliggöra enligt EU:s marknadsmissbruksförordning (EU nr 596/2014). Informationen lämnades, genom angiven kontaktpersons försorg, för offentliggörande 2024-12-06 15:46 CET.