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Under the terms of the agreement Sigmar will pay Stellar an upfront licensee fee, plus a specified transfer price in exchange for the rights to an exclusive license for this territory. This agreement has an initial five year term and may be renewed for an additional three year term with the mutual agreement of both parties. Stellar's Uracyst is used in the treatment of interstitial cystitis and painful bladder syndrome. With the approved CE Mark for Uracyst already in place for the European market, it is expected that Uracyst should be launched by Sigmar in the second quarter of 2009. Peter Riehl, president and CEO of Stellar, said: "This agreement adds to the company's overall growth strategy, to license our proprietary products into the global market place and adds to the other distribution agreements, which Stellar has entered into in respect of other European territories. We look forward to building a successful long-term working relationship with Sigmar." http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon For full details for SLXCF click here.
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