SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1/A
Document Type: EX-10.7
Date Filed: 2026-03-18
Accession Number: 0001493152-26-010642
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315226010642/ex10-7.htm

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Exhibit

HENRY
FORD HEALTH SYSTEM

Exclusive
License Agreement

This
license agreement (“Agreement”) is made effective as of the 28th day of December (“Effective Date”), by and between
Henry Ford Health System, a Michigan nonprofit corporation, having its statewide administrative offices at One Ford Place, 4B, Detroit,
Michigan 48202-3450, (“HFHS”), and MateraCor, Inc., a Delaware corporation, having a principal place of business at 30965
La Brise, Laguna Niguel, CA 92677 (“Licensee”).

BACKGROUND

portfolio of inventions for the treatment of heart failure invented by Dr. Hani Sabbah, et al (“Invention”) and claimed in
Patent Rights as defined below.

B. The
Licensee wishes to obtain rights from HFHS for the commercial development of the Invention, in accordance with the terms and conditions
set forth herein and HFHS is willing to grant those rights so that the Invention may be developed and the benefits enjoyed by the general
public.

C. The
scope of such rights granted by HFHS is intended to extend to the scope of the patents and patent applications in Patent Rights, but
only to the extent that HFHS has proprietary rights in and to the Valid Claims of such Patent Rights.

D. Both
parties recognize and agree that Earned Royalties are due under this Agreement with respect to products, services and methods and that
such royalties will be paid. with respect to both pending patent applications and issued patents, in accordance with the terms and conditions
set forth herein.

The
parties agree as follows:

1. DEFINITIONS
— As used in this Agreement, the following terms, whether used in the singular or plural, shall have the following meanings:

1.1 “Affiliate”
of the Licensee means any entity which, directly or indirectly, Controls the Licensee, is Controlled by the Licensee or is under common
Control with the Licensee. “Control” means (i) having the actual, present capacity to elect a majority of the directors of
such affiliate; (ii) having the power to direct at least forty percent (40%) of the voting rights entitled to elect directors; or (iii)
in any country where the local law will not permit foreign equity participation of a majority, ownership or control, directly or indirectly,
of the maximum percentage of such outstanding stock or voting rights permitted by local law.

1.2 “Combination
Product” means a combined Product that contains or uses a Licensed Product or Licensed Method and at least one other Product that
is not a Licensed Product or Licensed Method, where the market price of such combined Product is higher than the market price for the
Licensed Product or Licensed Method.

1.3 “Earned Royalty” shall have the meaning given in Paragraph 5.1.

1.4 “Field of Use” means all cardiac applications.

1.5 “First
Commercial Sale” shall mean the first Sale for which payment has been invoiced in any particular country after receipt of any necessary
regulatory approval in that country.

1.6 “Joint
Venture” means any separate entity established pursuant to an agreement between a third party and the Licensee and/or Sublicensee
to constitute a vehicle for a joint venture, in which the separate entity manufactures, uses, purchases, Sells or acquires Licensed Products
or Licensed Methods from the Licensee or Sublicensee.

I.7 “Licensed
Method” means any process, art or method the use or practice of which, but for the license granted in this Agreement, would infringe,
or contribute to, or induce the infringement of, any Patent Rights. Such infringement, contributory infringement or inducement to infringement
will be determined on a country-by-country basis. With respect to patent applications in a country, such infringement, contributory infringement
or inducement to infringement will be determined as if a patent based on such patent application were issued at the time of the infringing
activity in that country.

1.8 “Licensed
Product” means any Product, including, without limitation, a Product for use or used in practicing a Licensed Method and any Product
made by practicing a Licensed Method, the manufacture, use, Sale, offer for Sale or import of which, but for the license granted in this
Agreement, would infringe, or contribute to, or induce the infringement of, any Patent Rights. Such infringement, contributory infringement
or inducement to infringement will be determined on a country-by- country basis. With respect to patent applications in a country, such
infringement, contributory infringement or inducement to infringement will be determined as if a patent based on such patent application
were issued at the time of the infringing activity in that country. Any practice of the Licensed Method is included within Licensed Product.

1.9 “Net
Invoice Price” means the gross invoice price charged for a Licensed Product or Licensed Method, less (i) an allowance for those
accounts deemed uncollectible (in accordance with industry standards and U.S. GAAP), and (ii) the following items:

1.9.1	Allowances
actually granted to customers for rejections, returns and prompt payment and volume discounts;
Freight, transport packing and insurance charges associated with transportation; Taxes, including
Deductible Value Added Tax, tariffs or import/export duties based on Sales when included
in the gross invoice price. “Deductible Value Added Tax” means value added tax
only to the extent that such value added tax is actually incurred and is not reimbursable,
refundable or creditable under the tax authority of any country; Discounts and rebates that
are part of a formulary program and are paid or credited to customers, third-party payers,
healthcare systems, or administrators for a Licensed Product or Licensed Method when included
in such formulary program; and Rebates and discounts paid or credited pursuant to applicable
law.

1.10 “Net Sales” means:

1.10.1	The
Net Invoice Price, except for any Relationship- Influenced Sale of a Licensed Product or
Licensed Method in which case Net Sales shall be based on the Net Invoice Price at which
the Relationship-Influenced Sale Purchaser resells such Licensed Product or Licensed Method.

the event that a Licensed Product or Licensed Method is Sold as part of a Combination Product,
the Net Sales from the Combination Product, for the purposes of determining Earned Royalties,
shall be determined by multiplying the Net Sales of the Combination Product by the fraction,
A/(A+B) where A is the average sale price of Licensed Product or Licensed Method when Sold
separately and B is the average sale price of the other Product(s) Sold separately. In the
event that such average sale price cannot be determined for both the Licensed Product or
Licensed Method and other Product(s) in the Combination Product, Net Sales for purposes of
determining Earned Royalties shall be calculated by multiplying the Net Sales of the Combination
Products by the fraction C/(C+D) where C is Licensee’s cost of goods for the Licensed
Product or Licensed Method and D is Licensee’s cost of goods of the other Product(s),
determined in accordance with U.S. GAAP.

“New Developments” means new inventions made by HFHS.

1.12 “Patent
Rights” means the Valid Claims of, to the extent assigned to or otherwise obtained by HFHS, the United States patents and patent
applications and their foreign equivalents listed in Appendix A.

Patent
Rights shall further include advancements, improvements and expanded claims to this Invention and the Valid Claims of, to the extent
assigned to or otherwise obtained by HFHS, any reissues, extensions, substitutions, continuations, divisions, continuation-in-part applications
and the corresponding foreign patents and patent applications. This definition of Patent Rights excludes any rights in and to New Developments.

Prior
to filing a patent application in any country that names as an inventor Dr. Hani Sabbah or other employee of HFHS, Licensee shall
provide HFHS with written notice of the intention to file and a review copy of the proposed patent application. HFHS shall have no
less than fifteen (15) days to review any such application and provide comments to Licensee, which Licensee shall review and
consider in good faith.

1.13 “Product”
means any kit, article of manufacture, composition of matter, material, compound, component or product.

1.14 “Related
Party” means a corporation, firm or other entity with which, or individual with whom, the Licensee and/or any Sublicensee (or any
of their respective stockholders, subsidiaries, Joint Ventures or Affiliates) have any agreement, understanding or arrangement (for example,
but not by way of limitation, an option to purchase stock or other equity interest, or an arrangement involving a division of revenue,
profits, discounts, rebates or allowances) unrelated to the Sale of the Licensed Products and/or Licensed Methods without which such
other agreement, understanding or arrangement, the amounts, if any, charged by the Licensee or any Sublicensee to such entity or individual
for the Licensed Product and/or Licensed Method, would be higher than the Net Invoice Price actually received, or if such agreement,
understanding or arrangement results in the Licensee or any Sublicensee extending to such entity or individual lower prices for such
Licensed Product and/or Licensed Method than those charged to others without such agreement, understanding or arrangement buying similar
Products, methods or services in similar quantities.

“Relationship-Influenced Sale” means a Sale of a Licensed Product or Licensed Method between the Licensee and/or any Sublicensee
and (i) an Affiliate; (ii) a Joint Venture; (iii) a Related Party or (iv) the Licensee and/or a Sublicensee.