Magnasense AB Announces Termination of Agreement with Digital Health Solutions, LLC
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Bioteknik |
Magnasense AB today announced the mutual termination of its agreement with Digital Health Solutions, LLC (DHS). As part of the termination, DHS has agreed to waive the 9,500,000 free-of-charge warrants of series 2024/2025 previously announced on the 25 August 2024. This means that an extraordinary general meeting regarding the directed issue of warrants of series 2024/2025 will not be announced.
This decision follows the conclusion of Magnasense's involvement in the RADx® project, allowing both parties flexibility to explore future collaboration opportunities.
Under the original agreement, Magnasense paid DHS USD 200,000 for completed work under WP1 of the RADx® project. Magnasense will reimburse DHS for incurred unreimbursed expenses in the amount of USD 80,000. However, the remaining work valued at USD 620,000 has been cancelled.
Magnasense expresses its sincere appreciation for DHS's contributions to the RADx® project, noting their expertise was instrumental in advancing the company’s technology and achieving key milestones.
Looking ahead, Magnasense remains committed to driving innovation in healthcare solutions and is actively seeking new opportunities aligned with its strategic goals.