NeuroMetrix (NASDAQ:NURO) Enters Into Asset Purchase Agreement with Fukuda Denshi Co., Ltd.

NeuroMetrix, Inc., a Delaware corporation, disclosed in a recent 8-K filing with the Securities and Exchange Commission that on January 16, 2025, it finalized an Asset Purchase Agreement with Fukuda Denshi Co., Ltd., a Japanese corporation. This agreement pertains to NeuroMetrix selling its rights, title, and interest in assets related to its DPNCheck product line for utilization in the Japanese market, along with associated intellectual property rights. DPNCheck offers a point-of-care test for diabetic peripheral neuropathy, a prevalent long-term complication of Type 2 diabetes.

Upon committing to the Asset Purchase Agreement, both parties extended their collaboration through a Patent Assignment Agreement and an Intellectual Property License Agreement, both executed on January 16, 2025. The Patent Assignment Agreement saw NeuroMetrix assigning certain intellectual property rights in Japan regarding the DPNCheck product line to Fukuda Denshi. Simultaneously, the License Agreement permits Fukuda Denshi a limited, non-exclusive, royalty-free license in Japan concerning specific materials and know-how tied to the purchased intellectual property.

Transactions outlined in the Asset Purchase Agreement necessitate an upfront payment of $400,000 in cash at the closing stage, with potential additional payments totaling up to $1.5 million post-closing, contingent upon achieving predetermined milestones. The Board of Directors at NeuroMetrix endorsed the Asset Purchase Agreement and associated transactions, which encompass customary representations, warranties, covenants, and indemnification provisions standard for such agreements. These provisions, lasting until March 31, 2025, include confidentiality and non-compete obligations by involved parties.

Detailed copies of the Asset Purchase Agreement, Patent Assignment Agreement, and License Agreement will be included as exhibits in NeuroMetrix’s upcoming Annual Report on Form 10-K, covering the fiscal year ending December 31, 2024.

In compliance with Securities and Exchange Act guidelines, the report was officially signed by Thomas T. Higgins, the Senior Vice President, Chief Financial Officer, and Treasurer of NeuroMetrix, on January 23, 2025.

The disclosure aims to provide investors and stakeholders with a transparent overview of NeuroMetrix’s recent strategic business decisions and partnerships.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read NeuroMetrix’s 8K filing here.

About NeuroMetrix

NeuroMetrix, Inc, a commercial stage neurotechnology company, engages in designing, building, and marketing medical devices that stimulate and analyze nerve response for diagnostic and therapeutic purposes in the United States, Europe, Japan, and China. Its marketed products include DPNCheck, a nerve conduction test that is used to evaluate peripheral neuropathies, such as diabetic peripheral neuropathy; Quell, a wearable device for symptomatic relief and management of chronic pain; and ADVANCE system offers services to device and provide disposable electrodes to a customer base of hand surgeons and manufacturers for industrial health use.