- Pacific Edge have issued 1,084,622 shares to Cellmid having achieved their requisite milestone
- The shares have been issued pursuant to the midkine diagnostic license agreement signed on 17 May 2010
SYDNEY, Thursday, 1 August 2013: Cellmid Limited (ASX: CDY) has been notified that it has been issued 1,084,622 milestone shares by Pacific Edge Limited (Pacific Edge).
Cellmid signed a license agreement with Pacific Edge in 2010 for the use of midkine as one of the biomarkers in their bladder cancer test (Cxbladder). The license between Cellmid and Pacific Edge provides for a milestone fee, payable in Pacific Edge shares, and due at the time Cxbladder sales commence in the USA. In addition to the milestone fee royalties will also be paid to Cellmid on Cxbladder revenues.
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