ART extends distribution agreement with GE Healthcare
11 January 2007
Montreal, Canada. ART Advanced Research Technologies
Inc. (TSX: ARA), has announced the extension of its current agreement with
GE Healthcare for the exclusive worldwide distribution of its eXplore Optix
preclinical optical molecular imaging system.
The extension of the current
distribution agreement will allow ART and GEHC to maintain the ongoing
sales, marketing and customer support operations for eXplore Optix while the
parties workout a new multi-year agreement. Discussions have been ongoing
between ART and GEHC over the last few months with respect to the conclusion
of a new distribution agreement that will aim to establish the conditions
for the effective commercialization of ART’s eXplore Optix product.
previous agreement, signed in November 2003, gave GE rights to be the
exclusive worldwide distributor of the eXplore Optix preclinical molecular
imaging system. ART retained all manufacturing and sourcing
responsibilities, while GE became responsible for sales, distribution,
marketing, and customer service worldwide.