Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 373

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 373
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 entered into by Cerevast and Transducerworks, LLC dated March 8, 2018 (“Transducerworks License”).

The Doheny License grants Cerevast an exclusive, worldwide, royalty bearing, sublicensable license under certain patents titled, “Thrombolysis in Retinal Vessels with Ultrasound”, “Ocular Ultrasound Probe”, “Sonolysis method”, “Ultrasound and Microbubbles in Ocular Diagnostics and Therapies” and Intraocular Ultrasound Doppler Techniques, owned by Doheny to research, develop, make, have made, use, import, put into use, modify, distribute, offer for sale, sell and have sold licensed products and practice licensed processes during the term of the Doheny License in the field of prevention, diagnosis, and/or prognosis of diseases and disorders of the eye. In addition to a license issuance fee paid in the amount of $8,500, the Doheny License requires a 1% royalty payment on net sales of licensed products sold for a period of time beginning on the date of the first commercial sale and ending upon the expiration or termination of the last valid claim that covers the development, manufacture, use, sale or importation of such licensed products in a given country. The Doheny License also requires Cerevast to make payments to Doheny equal to 10% of sublicensing revenue received by Cerevast. At any point, Cerevast can extinguish the obligation to pay royalties (on both net sales of licensed products and sublicensing revenue) by paying Doheny $50,000. While Cerevast has primary responsibility for preparing, filing, prosecuting, and maintaining the licensed patents, Doheny retains the right to enforce the licensed patents against infringement. Cerevast may terminate at any time upon thirty 30 days’ prior written notice to Doheny. However, if Cerevast breaches any of its payment obligations and such breach continues for 60 days after written notice of such breach was provided to Cerevast by Doheny, Doheny has the right at its option to terminate. Upon termination or expiration of the Doheny License, Cerevast must destroy or return to Doheny, at Doheny’s direction, all information related to the licensed Doheny patent rights. The term of the Doheny License continues until the expiration of the last valid claim within the licensed rights and products,