Guided Therapeutics has extended third consecutive year licensing agreement with Konica Minolta Technology Center to co-develop a non-invasive Barrett's Esophagus detection product.
The Barrett’s Esophagus product is based on the Guided Therapeutics’ non-invasive LuViva Advanced Cervical Scan detection technology, which is undergoing the US Food and Drug Administration’s premarket approval process and CE mark review.
Under terms of the agreement, Guided Therapeutics will be paid approximately $2m, including a licensing fee over the course of the next eight months.
Guided Therapeutics said it will retain all rights to lung and biliary cancer that were previously shared with Konica to develop a product for detection of esophageal cancer in 2013.
Guided Therapeutics president and CEO Mark Faupel said, "The results of our recently completed feasibility study give both companies confidence to further advance the program and begin a larger patient multicenter clinical study."