Sanara MedTech Inks Exclusive License Agreement With Tufts University

(RTTNews) - Sanara MedTech Inc. (SMTI), Wednesday announced that is has signed an exclusive license agreement with Tufts University to develop and commercialize patented technology covering 18 unique collagen peptides.

Zach Fleming, Sanara's CEO stated, "Sanara has established itself as a leader in bioactive collagen peptides with CellerateRX Surgical Powder ("CellerateRX"). We see significant opportunities to broaden our existing CellerateRX product line and develop new bioactive collagen peptide-based applications that will help improve outcomes and advance patient care while reducing healthcare system costs. We believe that the technology that we have licensed from Tufts, supported by the expertise of our research and development team at Rochal, can help us expand our product offering of collagen products."

As part of this agreement, Sanara has formed a new subsidiary, Sanara Collagen Peptides, LLC, and has issued 10% of SCP's outstanding units to Tufts.

Sanara Collagen Peptides has exclusive rights to develop and commercialize new products based on the licensed patents and patents pending.

Sanara Collagen Peptides will pay Tufts a minimum annual royalty of $50,000 on January 1 of the year following the first anniversary of the first commercial sale of the licensed products or technologies. SCP will pay Tufts a $100,000 minimum annual royalty on January 1 of each subsequent year during the royalty term specified in the exclusive license agreement.