Quantrx Biomedical Corp - Current report filing (8-K)
20 Agosto 2008 - 5:47PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of
report (Date of earliest event reported): August 14, 2008
QuantRx
Biomedical Corporation
|
(Exact
name of Registrant as Specified in Charter)
Nevada
|
|
0-17119
|
|
33-0202574
|
(State
or Other Jurisdiction
of
Incorporation)
|
|
(Commission
File
Number)
|
|
(IRS
Employer
Identification
No.)
|
100
S. Main Street, Suite 300
Doylestown,
Pennsylvania
|
|
18901
|
(Address
of principal executive offices)
|
|
(Zip
Code)
|
Registrant’s
telephone number, including area code: (267) 880-1595
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o
|
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
|
o
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
o
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
|
o
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
|
Item
1.01
|
Entry
into a Material Definitive
Agreement
|
Technology
License Agreement
On
August
14, 2008, QuantRx Biomedical Corporation, a Nevada corporation, entered into
a
Technology
License Agreement with a major international consumer products company (“the
Licensee”) under which the Licensee acquired exclusive world-wide rights to use
certain QuantRx technology related to a jointly developed point-of-care rapid
test (“the Product”) for the consumer over-the-counter market. The licensed
technology includes all scientific, research and development and engineering
information, trade secrets, processing information, product briefs, chemical
research, manufacturing methods, market research and reports, technology and
know-how used by and/or known by QuantRx, or its agents, for use in connection
with the Product. In addition, licensed technology shall include all information
and know-how necessary for the Licensee to utilize QuantRx's know-how needed
to
manufacture the Product, along with all related information and
undertakings.
QuantRx
will receive a fully-earned commercialization fee for prior efforts related
to
the joint development of the Product and shall receive royalties on net sales
of
the Product.
The
license shall expire June 1, 2018 and shall thereafter renew automatically
for
one year terms in perpetuity, unless terminated in accordance with the following
conditions:
(a)
Either
party
may
terminate the agreement
at
any
time beginning after June 1, 2018 by providing written notice
to the
other party by no later than April 30
th
of such
year, otherwise, the agreement will automatically be renewed for another
year.
(b)
Either
party
may terminate the agreement immediately for breach of or default under the
agreement, provided such breach or default is not fully cured within
the
cure
period
.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
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QUANTRX
BIOMEDICAL CORPORATION
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Date:
August 20, 2008
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By:
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/s/
Walter Witoshkin
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Walter
Witoshkin
|
|
Chairman
and Chief Executive Officer
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|
|
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