STRATA Skin Sciences has signed a fully paid exclusive and perpetual license agreement with an entity for a de-identified digital image library of pigmented lesions and their related documentary information, associated to its discontinued MelaFind device.
STRATA retains all intellectual property rights related to the MelaFind device and product line, including patents, design files and PMA approval to market. The strategic entity will be allowed exclusive rights to the de-identified digital images.
STRATA CEO Dolev Rafaeli said: “We are pleased to come to agreement with this licensing partner for the de-identified images related to the MelaFind device. Rationalizing the MelaFind assets is one step in our ongoing strategic turn-around efforts following our recent financing.
“While we will look for additional licensing opportunities and continue to evaluate potential M&A opportunities, our main focus is on rebuilding our XTRAC network, expanding internationally and executing on our proven revenue strategy.”
The perpetual license agreement is subject to customary closing conditions.
MelaFind was developed by the Company with intention to provide a dermatologist with a software-driven image analysis of clinically irregular pigmented moles when they choose to obtain additional info to help decide whether or not to biopsy (at the most curable and cost-effective stage). MelaFind is both FDA Pre-Market Approved (PMA) for the U.S. and has CE Marking certification for the European Union.
The MelaFind system utilizes innovative software-driven technology and state-of-the-art 3-D imaging to non-invasively extract data 2.5 mm below the skin surface from patient’s clinically irregular pigmented moles and objectively analyzes them with proprietary algorithms.
MelaFind provides important additional perspective to physicians to help them better understand the structural disorganization of a patient’s pigmented irregular moles (before cutting the skin) during the evaluation and diagnosis process for melanoma.
On March 10, 2017 the company announced its intention to discontinue the development and sales of the MelaFind product line effective on September 30, 2017.
Source: Company Press Release