Provectus Biopharmaceuticals announced that it has entered into an agreement with the University of Miami for the exclusive worldwide license of the University’s intellectual property related to photodynamic antimicrobial therapy for treating bacterial, fungal, and parasitic infections of the eye. This agreement contemplates Provectus forming a majority-owned start-up company in which the University would be a minority equity shareholder, aimed at developing and commercializing the University’s PDAT medical device in combination with a formulation of the Company’s proprietary pharmaceutical-grade rose bengal sodium active pharmaceutical ingredient. Provectus would contribute the license to the new entity and have an exclusive RBS supply arrangement with it.
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