26.02.2020 13:30:40 - dpa-AFX: DGAP-News: Izotropic Successfully Extends Exclusive Global License Agreement for Innovative Breast CT Technology Until 2027 (english)

Izotropic Successfully Extends Exclusive Global License Agreement for
Innovative Breast CT Technology Until 2027

DGAP-News: Izotropic Corporation / Key word(s): Miscellaneous
Izotropic Successfully Extends Exclusive Global License Agreement for
Innovative Breast CT Technology Until 2027

26.02.2020 / 13:30
The issuer is solely responsible for the content of this announcement.

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Vancouver, British Columbia--(Newsfile Corp. - February 26, 2020) -
Izotropic Corporation (CSE: IZO) (OTC Pink: IZOZF) (FSE: 1R3) ("Izotropic"
or the "Company") The Company is pleased to announce that it has extended
the terms of its exclusive global License Agreement with The Regents of the
University of California.

The amendments under the revised exclusive global License Agreement relate
to the formal Commercialization Plan of breast CT technology developed at UC
Davis Medical Center in Sacramento, CA. Due to unforeseen delays with patent
prosecutions and completing important patent applications and filings, there
was mutual desire by the parties to negotiate an extension.

The Company now has until January 2027 to execute on the terms agreed to
under the Commercialization Plan and expects to meet the terms of the
Commercialization Plan under the Licensing Agreement well before this date.
In consideration of this extension, a nominal payment of $20,000 per annum
will be made until commercialization terms are completed.

Extending the commercialization terms and timeline is a material development
for the Company and we wish to acknowledge the support and cooperation
provided by the Regents of the University of California and UC Davis.

ON BEHALF OF THE BOARD

Robert Thast
Chief Executive Officer

About Izotropic Corp.

Izotropic Corporation (the Company) and its wholly owned U.S. operating
subsidiary, Izotropic Imaging Corp. have been established to commercialize
the next generation of breast imaging technology for early diagnosis of
breast cancer. The Izotropic Breast CT Imaging System produces high
resolution breast images in 3D. A single 10 second breast CT scan acquires
approximately 500 images, without painful breast compression, providing
radiologists with fully 3D viewing of the scanned breast. Mammography
scanning requires compression of the breast between 2 imaging plates,
resulting in 2D images.

The Company has the exclusive license from the University of California,
Davis (UC Davis) to commercialize the technology developed by principal
founder and Company director Dr. John M. Boone and researchers at UC Davis.
The license includes all intellectual property, trade secrets, patents and
patent-pending applications that are the foundation of the Company's breast
CT imaging platform.

Approximately $20 million in research funding and over 15 years of research
and development have been invested in developing this groundbreaking breast
CT imaging technology. Research includes a current, fully funded $2.9M U.S.
clinical trial at UC Davis Medical Center.

The Company founders believe that this technology will be a disruptive entry
to the market, overcoming many of the challenges faced by existing breast
imaging modalities.

Phone: 1-833-IZOCORP
Email: info@izocorp.com
Website: izocorp.com

To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/52817

Click on, or paste the following link into your web browser,to view the
associated documents http://www.newsfilecorp.com/release/52817
News Source: Newsfile


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26.02.2020 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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   Language:       English
   Company:        Izotropic Corporation



                   Canada
   ISIN:           CA46604F1099
   EQS News ID:    984069




End of News DGAP News Service
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984069 26.02.2020
Name WKN Börse Kurs Datum/Zeit Diff. Diff. % Geld Brief Erster Schluss
IZOTROPIC CORP. A2JNLV Frankfurt 0,115 28.05.20 14:23:24 -0,003 -2,54% - - 0,125 0,115

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