Avita Medical acquires intellectual property rights from McComb Foundation

1 December 2011 (Last Updated December 1st, 2011 03:30)

Avita Medical has successfully completed the transfer and acquisition of intellectual property from the Australia-based McComb Foundation.

Avita Medical has successfully completed the transfer and acquisition of intellectual property from the Australia-based McComb Foundation.

Under the agreement, all of McComb's patents, patent applications and other patent rights, including intellectual property, have been assigned and transferred to Avita Medical.

Avita has agreed to pay McComb an on-going royalty of 1% of revenues generated through application of the transferred intellectual property through the life of current patents.

Recently, Avita was granted its application for patent protection titled "Cell Suspension Preparation Technique and Use" for the delivery of disaggregated skin cells by the Hong Kong SAR Patent Registry.