Miraculins, Cachet Pharmaceutical deal

Miraculins and Cachet mutually agreed to extend the period to negotiate Cachet's acquisition of exclusive rights to commercialize Miraculins' SCOUT DS Non-Invasive Diabetes Screening technology in China by 30 days to Jan. 30. Miraculins and Cachet said "additional time is required in order to further pursue discussions." The companies signed a letter of intent that gave the parties 90 days from Sept. 30 to establish and execute a definitive licensing agreement, which Miraculins said may include an upfront payment, royalties, funding for regulatory approval and a commitment to conduct and fund market development activities. Cachet is majority state-owned (see BioCentury, Oct. 7, 2013). ...