Irhythm Technologies (IRTC) has issued an announcement.
iRhythm Technologies, Inc. has secured a significant Technology License Agreement with BioIntelliSense, Inc., obtaining a fully paid perpetual license for research, development, and commercialization of advanced medical technologies. This strategic move grants iRhythm exclusive access to BioIS’ pulse oximetry, accelerometry, and blood pressure tech for its cardiac monitoring solutions, alongside the opportunity to negotiate a supply deal for pulse oximetry hardware. The deal involves an upfront $15 million payment and potential milestone payments totaling $20 million, with additional royalties on certain product sales. The agreement, which can be terminated under specific conditions, also led to iRhythm’s $40 million investment in BioIS’ convertible notes, further cementing this promising collaboration.
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