May 11, 2020 / 7:31 AM / 21 days ago

BRIEF-Hemp & Wood Signs Memorandum Of Understanding With US-Based Alivecel On Joint Venture

May 11 (Reuters) - Hemp & Wood SA:

* SAID ON SUNDAY IT HAS SIGNED MEMORANDUM OF UNDERSTANDING WITH US-BASED ALIVECEL ON DETERMINING CONDITIONS OF PARTICIPATION IN POLAND-BASED JOINT VENTURE

* JOINT VENTURE WILL OFFER HEALTH MONITORING SYSTEMS IN THE FORM OF IMPLANT IN THE HAND

* JOINT VENTURE WILL CONDUCT RESEARCH (R&D) INTO PRODUCTION OF LIVE CELLS TO MEASURE AND DETECT PROTEINS PRODUCED BY COVID/SARS/MERS VIRUSES, AS WELL AS MARKERS OF GLUCOSE, INSULIN, CANCER, HEART ATTACK AND OTHER

* “IN VIVO” MONITORING WILL TAKE PLACE IN REAL TIME

* SAYS JOINT VENTURE PLANS TO CONDUCT R&D IN POLAND AND USA IN COOPERATION WITH AMERICAN CENTRES AND RESEARCH AGENCIES

* JOINT VENTURE WILL GRANT LICENCE AND DELIVER TECHNOLOGIES TO ALIVECEL, HEMP & WOOD AND TO MEDICAL AND PHARMACEUTICAL COMPANIES WORLDWIDE

* ALIVECEL WILL COMMERCIALISE THE TECHNOLOGY PRIMARILY IN USA, WHILE THE COMPANY WILL HAVE EXCLUSIVE RIGHTS TO DISTRIBUTE PRODUCTS IN POLAND AND ON THE EUROPEAN MARKETS

* THE COMPANY WILL BE THE FIRST FINANCIAL INVESTOR IN THE JOINT VENTURE AND HAS THE TASK OF OBTAINING ADDITIONAL CAPITAL FROM POLISH AND EUROPEAN INSTITUTIONS, SUCH AS POLAND’S NATIONAL CENTRE FOR RESEARCH AND DEVELOPMENT (NCBIR) OR NATIONAL SCIENCE CENTRE (NCN), AS WELL AS FROM AMERICAN AND EUROPEAN INVESTORS

Source text for Eikon:

Further company coverage: (Gdansk Newsroom)

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