I think the question on time frame is, when did this arrangement start. I recall comments that this deal builds on the foundation already laid over the last 12-18 months already.
They have come to terms on the cost of using the IP for the reader, they have ticked off phase 1 relatively quickly (that was really a no brainer). You could safely say that Phase 2 commenced the day after the Phase 1 completion announcement which was May 6th. They already have the technology for the test (its been working for 20 years). They just need to build it into the cassettes and reader device tech, id be curious as to what else would be needed outside of updated ready technology for more accurate results? I wouldn't think that would take dramatic time and i believe its building on what they were working on last year?
Further: Phase 3 - System Prototype Delivery: deliver a
working prototype of the system - US$3.7 million.
This isn't for rollout of the overall system, but just a working version of the system. It would be up to Hologic to then take control and do whatever requirements there are to approve the test and arrange distribution. LDX would just be required to build the things.
Once distribution occurs, annuities to occur from the devices and the tests themselves.
