The University of British Columbia’s subsidiary SafeCoat Medical Inc has been acquired by Asep Medical Holdings Inc. The two parties also entered into an exclusive worldwide license agreement for the use, development, and commercialization of a medical device coating technology. The coating kills bacteria and prevents dead bacteria from binding to the medical device’s surface, which helps to prevent infections from medical devices. Asep Inc will hold 88% of the issued and outstanding shares of SafeCoat, with the remaining 12% owned by UBC and the non-waiving inventors of the technology. Under the 20-year license agreement, UBC will receive gradually-increasing annual fees from SafeCoat as well as royalties from Asep.
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