Bluejay Diagnostics amends Toray license; royalty cut to 7.5% of net sales, supply deal for FDA path

Bluejay Diagnostics, Inc.

Royalty rate reduced from 15% to 7.5% of net sales (or less) for 10-year term; 50% reduction after patent expiry.
New supply agreement: Toray will manufacture intermediates for FDA-approval cartridges through Oct 2025 or FDA clearance.
Bluejay obtains right to sublicense Toray IP to Sanyoseiko for manufacturing Symphony device and cartridges for clinical trials.
Technology transfer from Toray to Sanyoseiko for cartridge manufacturing, enabling commercial scale production.
Prior upfront license fee of $240,000 already paid; post-commercial minimum annual royalty of $100,000.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Bluejay Diagnostics, Inc. amended New Toray License Agreement with Toray Industries, Inc. valued at royalty reduced from 15% to 7.5% of net sales (effective 2023-10-23).

Action: amendment
Agreement: license
Counterparty: Toray Industries, Inc.
Value: royalty reduced from 15% to 7.5% of net sales
Effective: 2023-10-23

Exact text from the filing

On October 23, 2023, Bluejay Diagnostics, Inc. (the “Company”) and Toray Industries, Inc. (“Toray”) entered into an Amended and Restated License Agreement (the “New Toray License Agreement”) and a Master Supply Agreement (the “New Toray Supply Agreement”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Bluejay Diagnostics, Inc. amended New Toray Supply Agreement with Toray Industries, Inc. valued at Toray to manufacture near-term product intermediary components for FDA approval, not commercial sale (effective 2023-10-23).

Action: amendment
Agreement: supply
Counterparty: Toray Industries, Inc.
Value: Toray to manufacture near-term product intermediary components for FDA approval, not commercial sale
Effective: 2023-10-23

Exact text from the filing

On October 23, 2023, Bluejay Diagnostics, Inc. (the “Company”) and Toray Industries, Inc. (“Toray”) entered into an Amended and Restated License Agreement (the “New Toray License Agreement”) and a Master Supply Agreement (the “New Toray Supply Agreement”).

View on SEC.gov

269 material agreements filed in the last 30 days. Browse all material agreements →

Bluejay Diagnostics, Inc. filing history →

Source: SEC EDGAR

accession 0001013762-23-006952

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