Accurexa Inc. entered into a license agreement with Hong Kong-based Medisun Holdings Ltd., which granted Accurexa a nonexclusive license to use Medisun's Natural Killer cell technology.
This license agreement applies to the rest of the world other than Greater China and U.S. because these regions were covered under a previous license agreement entered between the companies.
As consideration for the license, Accurexa agreed to issue to Medisun or its nominees 30 million common shares.
Medisun has developed the cell technology for the treatment of cancer. It is clinically used to treat cancer patients at Medisun's network clinical facilities.
The license provides that Medisun will provide Accurexa any relevant technical advice and support from time to time as required by the company during the term of the agreement.