Looks like '
light-based oral care devices to dental professionals'.........and it looks like P&G have done diddly squat with the arrangement for the past decade. Worth a read.
In 2007:
'Under the terms of the agreement, BIOLASE has granted P&G rights to certain BIOLASE intellectual property. In addition to ongoing royalties based on net product sales, P&G will pay BIOLASE a $3 million initial payment, certain launch payments, and quarterly payments of $250,000 until the first product is launched, a portion of which will be credited against future royalties.'
http://www.marketwired.com/press-re...ip-with-procter-gamble-nasdaq-blti-684272.htm
And then in 2010:
BIOLASE Technology, Inc. (Nasdaq:
BLTI) announced today that it has signed a license agreement with The Procter & Gamble Company (NYSE:
PG)
to enable BIOLASE to launch light-based oral care devices to dental professionals. Negotiations concluded late last week with the signing of the agreement at P&G headquarters in Cincinnati. BIOLASE currently plans to market the new products to professionals through its primary distribution partner Henry Schein (Nasdaq:
HSIC) and its other distribution partners around the world.
"This agreement on implementing a product launch is an important milestone in our partnership with Procter & Gamble, a proven, global leader in the development, sales and marketing of professional and consumer products," said BIOLASE Chief Executive Officer David M. Mulder. "We believe this product will further extend our brand nationally and globally and will bring us closer to consumers through the professional market. We have a long-term strategy of making the benefits of all our products, particularly the Waterlase, well known to consumers."
https://www.streetinsider.com/Corporate News/BIOLASE (BLTI) Signs License Agreement with Proctor & Gamble (PG)/5665897.html
And then in 2014 on page 13 & 47:
'We have a non-exclusive license agreement with Procter & Gamble Company (“P&G”), granting P&G non-exclusive license rights to certain of our patents, enabling P&G to develop certain products aimed at the consumer market, and requiring P&G to pay royalties base d on sales of products developed with such intellectual property. The term of the arrangement continues until the underlying patents expire unless terminated earlier by either party.
We are exploring alternative product development opportunities.'
'License fees and royalty revenue in creased approximately $79,000 to approximately $244,000 in Fiscal 2013 compared to $165,000 in Fiscal 2012. These license fees and royalty revenue were attributable to intellectual property related to our laser technologies. We also have a non-exclusive license agreement with P&G, granting them non-exclusive license rights to certain of our patents. Although the term of the arrangement continues until the underlying patents expire unless terminated earlier by either party,
we have not generated revenue under the arrangement since 2011 and we are exploring alternative product development opportunities.'
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=9860648
Looks like P&G are either waiting for the patents to expire or are doing diddly squat with their tech at the moment, unless there is some kind of product I am missing!
(20min delay)