Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 374

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 374
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 which is currently September 15, 2033. To date, Cerevast has made no payments under the Doheny License.

The Transducerworks License exclusively licenses to Cerevast certain patents and proprietary information related to ultrasound transducer design and manufacturing. The licensed patents and applications are U.S. Patent Application No. 15/359,222, 2d “Ultrasound Transducer Array and Methods of Making the Same” and “PCT Application Serial No. PCT/US17/62805, 2d Ultrasound Transducer Arrays and Methods of Making the Same.” Either Party is entitled to terminate the Transducerworks License if the other party breaches the terms and fails to cure the breach. The Transducerworks License may also be terminated by either party if the other party files a petition for bankruptcy or becomes insolvent. The Transducerworks License is a royalty-bearing, exclusive, non-transferable, limited license, without the right to sublicense, that allows Cerevast to manufacture, market and sell ultrasound transducer arrays for incorporation into ultrasound systems for transcranial indications. Royalty fees are a flat fee for each transducer sold, where the amount of the fee varies depending on where the transducer is sold ($50 per transducer sold in territories covered by the patents and $30 per transducer sold in territories not covered by the patents). The royalty payments expire upon expiration of the Transducerworks License. In addition, Cerevast is required to use its best efforts to meet a set of minimum sales targets per year during the term of the Transducerworks License. Although Transducerworks, LLC may terminate the license if minimum sales targets are not met, Transducerworks, LLC and Cerevast may reevaluate the minimum sales target numbers during the term of the Transducerworks License. Transducerworks must provide engineering support, technician support and/or machine shop support to Cerevast under the Transducerworks License. In the event either party becomes aware of a third party infringing the licensed patents, Transducerworks will take reasonable measures to enforce such patents against any infringing third party. The Transducerworks License also restricts Cerevast’s ability to enter into exclusive supply arrangements of the product with any company identified by Transducerworks, LLC as a competitor within one year of the effective date of the Transducerworks License. To date, Cerevast has made no payments to Transducerworks.

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Manufacturing

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