Comvita Reaches Medihoney Deal
New Zealand Herald, 12/21/2009
Natural healthcare company Comvita has completed a heads of agreement for a $6 million deal with Derma Sciences covering the worldwide licensing rights for Medihoney professional woundcare and skincare products.
The agreement is subject to the completion of full documentation and a successful capital raising and listing in January on the Nasdaq by Derma, a United States-based specialty medical device company in which Comvita has a 10 per cent stake.
Comvita said that under the deal Derma would have exclusive worldwide rights to manufacture and sell the full range of Medihoney woundcare and skincare products to the professional and medical market worldwide.
Comvita would retain exclusive worldwide rights to sell the same products to the over the counter (OTC) market.
Derma would manufacture the range of Medihoney products for Comvita to sell to OTC customers, Comvita would supply medical grade manuka honey to Derma, and there was a joint research and development cooperation agreement between Derma and Comvita…