Izotropic Revises License Agreement with The Regents of the University of California

Rhea-AI Summary

Izotropic Corporation has revised its exclusive global licensing agreement with UC Davis for its breast cancer imaging technology. The amended agreement aligns with Izotropic's strategic plans for the IzoView Breast CT Imaging System and future imaging products. The company maintains exclusive worldwide rights to develop, manufacture, and market Breast CT and related technologies from UC Davis Medical Center. The revised terms require Izotropic to obtain either U.S. FDA approval or foreign equivalent certification (like CE Mark), begin marketing, and achieve first commercial sale within specified timeframes that match their U.S. product launch timeline. The agreement includes sublicensing rights for global commercialization and requires a diligence obligation fee of USD $85,000, payable in installments by November 2025.

Positive

• Exclusive worldwide licensing rights for Breast CT and related technologies
• Flexibility for global market entry through sublicensing rights
• Agreement revision aligns with company's strategic plans and product launch timeline
• Potential for multiple revenue streams through sales, distribution fees, and pay-per-use fees

Negative

• Additional financial obligation of USD $85,000 due by November 2025
• Strict regulatory approval and commercialization deadlines must be met to maintain licensing rights

- License agreement enables U.S. FDA approval or foreign equivalent (CE mark) -
- Amendment aligns with Company's timelines for IzoView product launch -
- Agreement amendment fees of USD $85K payable in installments -

Vancouver, British Columbia and Sacramento, California--(Newsfile Corp. - June 10, 2025) - Izotropic Corporation (CSE: IZO) (OTCQB: IZOZF) (FSE: 1R3) ("Izotropic" or the "Company"), a medical device company commercializing imaging-based products utilizing innovative and emerging technologies for the more accurate screening, diagnoses, and treatment of breast cancers, is pleased to announce that it has revised its exclusive global licensing agreement with the Regents of the University of California ("UC Davis") to align with the Company's current strategic positioning, regulatory pathway, and global commercialization plans for the IzoView Breast CT Imaging System ("IzoView"), and other planned imaging-based products.

Izotropic holds the exclusive worldwide licensing rights to Breast CT and other technologies, patents, and patent applications developed at UC Davis Medical Center, in Sacramento, California. The agreement positions Izotropic as the sole commercial entity with the rights to develop, manufacture, and market these innovations for human screening, diagnostic, and therapeutic (treatment) use. The license agreement includes sublicensing rights that the Company may utilize to commercialize imaging technologies in global business sectors in exchange for sales revenues, distribution fees, and/ or pay-per-use fees on all licensed products.

Under the terms of the revised agreement, Izotropic is required to achieve U.S. regulatory approval or that of a foreign equivalent (such as European CE Mark), initiate marketing, and achieve the first commercial sale by specified dates that align with, but are not limited to, the Company's timelines for the U.S. product launch of IzoView. This structure offers flexibility for global market entry while ensuring licensing compliance for IzoView and enabling the advancement and commercialization of a more diversified portfolio of imaging technologies.

Izotropic has agreed to a diligence obligation fee of USD $85K due by November 2025, payable in structured installments.

About Izotropic:
More information about Izotropic Corporation can be found on its website at izocorp.com and by reviewing its profile on SEDAR+ at sedarplus.ca.

Forward-Looking Statements:
This document may contain statements that are "Forward-Looking Statements," which are based upon the current estimates, assumptions, projections, and expectations of the Company's management, business, and its knowledge of the relevant market and economic environment in which it operates. The Company has tried, where possible, to identify such information and statements by using words such as "anticipate," "believe," "envision," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," "contemplate" and other similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance, although not all forward-looking statements contain these identifying words.

These statements are not guarantees of performance and involve risks, including those related to capital requirements and uncertainties that are difficult to control or predict, and as such, they may cause future results of the Company's activity to differ significantly from the content and implications of such statements. Forward-Looking Statements are pertinent only as of the date on which they are made, and the Company undertakes no obligation to update or revise any Forward-Looking Statements to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law. Neither the Company nor its shareholders, officers, and consultants shall be liable for any action and the results of any action taken by any person based on the information contained herein, including, without limitation, the purchase or sale of Company securities. Nothing in this document should be deemed to be medical or other advice of any kind. All images are for illustrative purposes only. IzoView has not yet been approved or cleared for sale.

Contacts:
Robert Thast, Interim Chief Executive Officer
Telephone: 1-604-220-5031 or 1-833-IZOCORP ext. 1
Email: bthast@izocorp.com

James Gagnon, International Communications
Telephone: 1-604-780-7576 or 1-833-IZOCORP ext. 2

General and Corporate Inquiries
Telephone: 1-604-825-4778 or 1-833-IZOCORP ext. 3
Email: info@izocorp.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255026

FAQ

What are the key terms of IZOZF's revised license agreement with UC Davis?

The agreement grants Izotropic exclusive worldwide rights to develop, manufacture, and market Breast CT technology, requiring FDA or foreign equivalent approval, marketing initiation, and first commercial sale by specified dates, with an $85,000 diligence fee due by November 2025.

How much will Izotropic pay for the license agreement amendment?

Izotropic will pay a diligence obligation fee of USD $85,000, payable in structured installments by November 2025.

What products are covered under Izotropic's license agreement with UC Davis?

The agreement covers the IzoView Breast CT Imaging System and other imaging-based products developed at UC Davis Medical Center for breast cancer screening, diagnosis, and treatment.

What regulatory approvals does IZOZF need under the revised agreement?

Izotropic needs to obtain either U.S. FDA approval or a foreign equivalent certification, such as European CE Mark, for their products.

What commercial rights does the license agreement give to Izotropic?

The agreement gives Izotropic exclusive worldwide rights to develop, manufacture, and market the technologies, including sublicensing rights for global commercialization in exchange for sales revenues, distribution fees, and pay-per-use fees.