Member Article

Durham’s Kromek signs international cross licensing agreement

Durham-headquartered Kromek has signed a cross licensing agreement with “one of the world’s leading” manufacturers of medical equipment.

Under the terms of the agreement, the radiation detection technology company focusing on the medical, security and nuclear markets, will be granted a license to use three patents of the manufacturer, which has not been named, and in return will grant them a license to three of its patents.

Arnab Basu, Chief Executive Officer of Kromek, said: “We are delighted to be entering into this licensing agreement with one of world’s well known manufacturers of medical equipment.”

In recent months, the company has seen losses shorten following several significant contract wins, including with the U.S. Department of Defense agency and the Defense Advanced Research Projects Agency (“DARPA”).

In July, Kromek also announced a conditional firm placing and open offer to raise up to £11m, to fuel further company growth.

This was posted in Bdaily's Members' News section by Ellen Forster .