Lucira Health Terminates COVID-19 Test-Related Patent Agreement With Eiken Chemical
- According to an SEC filing, Lucira Health Inc (NASDAQ: LHDX) has terminated a Patent License with Eiken Chemical Co Ltd, effective May 12, 2022.
- The Company terminated the agreement because certain Eiken Licensed Patents have expired, all of which are locations in which the Company operates.
- According to the agreement announced in July 2020, Eiken granted Lucira Health a sublicensable, non-exclusive license under certain patents, relating, in part, to loop-mediated isothermal amplification for nucleic acid-based COVID-19 in-vitro diagnostic tests in the U.S.
- Related: Lucira Health Shares Fall After Announcing Debt Facility Of $80M.
- The Company also has limited have-made rights for the Eiken Licensed Patents.
- Following termination of the agreement, the Company will not be required to make any future payments under the contract.
- Price Action: LHDX shares closed 6.54% lower at $2.86 on Monday.
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