4-Oct-2005
Entry into Material Agreement
Item 1.01. Entry into a Material Definitive Agreement.
On September 28, 2005, Cepheid entered into a License Agreement (the "Agreement") with Abaxis, Inc., effective as of September 30, 2005, pursuant to which Abaxis granted Cepheid a non-exclusive, worldwide, royalty-bearing license to certain Abaxis patents relating to lyophilization technology in accordance with the provisions specified in the Agreement.
Under the Agreement and the licensed patents, and subject to certain limitations set forth therein, Cepheid will be able to make, have made, import, use, distribute and sell products for nucleic acid based amplification assays. In exchange for the license rights, Cepheid agreed to (i) make an upfront license payment to Abaxis, (ii) pay royalties during the term of the agreement and (iii) pay a yearly license maintenance fee during the term of the Agreement, which fee will be creditable against any royalties due during such calendar year. Cepheid may terminate the Agreement for any reason upon 30 days written notice to Abaxis. |
