Belluscura inks exclusive agreement with InnoMax
By HME News Staff
Updated 9:21 AM CDT, Thu August 31, 2023
LONDON and PLANO, Texas – Belluscura has entered into an exclusive licensing, marketing and distribution agreement with China-based InnoMax Medical Technology to manufacture and distribute Belluscura's X-PLOR portable oxygen concentrator in China, Hong Kong, Macau and Singapore (the Territories). The agreement will also include the DISCOV-R, the Belluscura's next generation, ambulatory dual flow portable oxygen concentrator, when registration is received in the Territories for both devices. Under the terms of the ten-year Agreement, effective Oct. 1, 2023, Belluscura is to receive annually increasing minimum cumulative royalties over the term of the Agreement. In addition to receiving royalties on licensed products (subject to annually increasing minimum amounts), Belluscura will receive a share of the net profits on sales of accessories. The agreement will be exclusive for a minimum of five years, though if minimum sales quantities are not achieved, Belluscura and InnoMax can mutually agree to grant InnoMax a non-exclusive license for the remainder of the term.
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