BSP - Biological Signal Processing Ltd. (TASE:BSP) has signed an agreement with Switzerland's Schiller AG to include BSP's HyperQ Stress System in Schiller's EKG product. A clinical assessment of the combined product will be conducted, in which Schiller will place 10-25 units in leading clinics.
Schiller is a leading international manufacturer of EKG and other products, and operates in 15 countries.
15% of revenue from the systems will go to BSP. The assessment period is scheduled to be completed by the second quarter of 2010. Afterwards, the companies will negotiate a commercial, marketing, and distribution licensing agreement for the combined product.
BSP CEO Dr. Amir Beker said, "The installation of the technology in Schiller products will consolidate recognition of the value of the technology. Schiller has no exclusivity to HyperQ technology in the agreement, and we will continue to establish collaborations with other companies."
BSP's share jumped 26.7% to NIS 1.05 on the news, giving a market cap of NIS 16 million.
Published by Globes [online], Israel business news - www.globes-online.com - on March 25, 2009
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