TechniScan, a medical device company engaged in the development and commercialization of an automated 3D breast ultrasound imaging system, has signed agreements with Austin, Texas-based Womens3D, for manufacturing and use of trademarks.
The agreements follow a product development agreement signed between the two companies in January 2011 in which they agreed to jointly develop a specialized version of TechniScan‘s Warm Bath Ultrasound (WBU) system for Womens3D target market of women’s specific health practices such as OB/GYN and general practice offices.
Under the terms of the manufacturing agreement, TechniScan will be the exclusive manufacturer and supplier of the products and Womens3D will receive a license to sell the product to its target market.
In addition to the manufacturing and trademark agreements, TechniScan receives shares of Womens3D common stock equal to 20% of the current capitalization of Womens3D.
TechniScan CEO Dave Robinson said they are looking forward to collaborating on the development and manufacturing of a WBU imaging system that addresses the needs of their target market.
"The partnership will potentially open new markets for our equipment and add an experienced medical imaging partner to our development efforts," Robinson said.