Expanding a bit on the status of the $4 Billion/yr worldwide, European-based distributer -- who operates in 100 countries:
“The goal for mass redistribution in Europe has been MicroThermX distribution by a large multinational corporation. And obviously what that gets us is a level of sales and marketing reach that's far above what we might achieve on our own.” (Wolcott)
“ . . . getting that kind of agreement underway for BSD would be a significant and [powerful] event, in many ways it would be validating very strongly the value of MicroThermX technology in the marketplace. And we have not hit the finish line but we want to say that we do have a tentative distribution agreement in place.”
Even after agreement on the key terms of such an agreement, it can take a lot of work by the parties and their lawyers and consultants to finalize a contract. Anyone who has worked on such contracts knows that translating the basic terms into suitable legal language is a difficult and time-consuming activity. However, the process is further along than just agreement on the key terms. This statement is important:
“. . .but again we have tentative agreements on all the language in the distribution agreement."
It's important to focus on the fact that the work and expense of developing a legally sound contract would not be undertaken unless both parties are fully interested in and committed to the sought business relationship. And, why not? The MTX-180 is a break-through product that provides FAR better therapy (microwave ablation, MWA) than the presently leading product-type (radiofrequency ablation, RFA) for the Interventional Oncology market (a manybillion/yr market, and rapidly growing). Not only can the MTX-180 be expected to capture the "lion's share" of this market now enjoyed by RFA, but it will convert even more of the Interventional Oncology practice to ablation by heat -- instead of, say cryoablation. The MTX-180 is a game-changing product for the IO market -- and its impact on BSD Medical promises to be profound.
And, bear in mind: The MTX-180, while currently "hot", is only one of BSD Medical's break-through products. New contracts are being negotiated for sales of BSD Medical's "Big Bertha" products -- the BSD-2000 series -- at specified (a new requirement) levels several times higher than prior -- and in some new geographic areas. These marketing advances are surely due to the emerging results of many Phase 3 (and Phase 3 type) trials, which show strong efficacy for the products (with very minor or no side effects, compared to established practices). Prior sales of the BSD-2000 series have been at a total of a scant few per year. Now, worldwide, several contracts are being negotiated or already signed for minimum levels of 5 to 8 units per year -- and this is still more-or-less just a beginning. |
