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Based on Ministry of Health Support for the LuViva Advanced Cervical Scan
Guided Therapeutics, Inc. reports in return for the license and manufacturing rights for Cervical Guides in Turkey, GTHP will receive fees totaling $3,000,000 in 2018. In addition, ITEM will pay GTHP a royalty for each Cervical Guide made and sold exclusively in Turkey and ITEM will be obligated to purchase 600 LuViva Advanced Cervical Scans and produce 3 million Cervical Guides for the Turkish market over the next five years.
Gene Cartwright, CEO of Guided Therapeutics, Inc. said, “ITEM has recently informed us that based on recent clinical studies, including the first published study indicating that LuViva is safe and effective for pregnant women, the Turkish Ministry of Health has approved LuViva for wide scale screening of cervical cancer. He added, “Because of this, we now expect a more rapid penetration into the market and increased government reimbursement. These factors are contributing to the feasibility of a license agreement at this point in time.”
ITEM’s President, Zafer Yazici, noted that “ITEM is pleased to be in the forefront of the advance of women’s health in Turkey and to help in the diagnosis and care of cervical cancer by providing such advanced technology and enabling the early detection of this serious disease.”
According to the World Health Organization, cervical cancer is ranked as one of the most frequent cancers in women. Turkey has a population of approximately 26 million women above 15 years of age, who are at risk of developing cervical cancer. The current estimates indicate approximately 5500 new cases diagnosed and 1950 deaths annually in Turkey, making the control of this deadly disease a priority for the Ministry of Health.