Ann: Non-renewal of 3M distribution agreement, page-3

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Non-renewal of 3M distribution agreement​

Sydney, Australia, Monday, 23 November 2020: Next Science Limited (ASX:NXS) (Next Science) announces that Next Science and 3M have agreed to not renew 3M’s distribution agreement for BlastX.

Next Science’s distribution agreement with 3M for BlastX is for a period of three years and requires the parties to consider their future commercial relationship prior to 31 December 2020, being the end of the second year of the agreement. The parties have opened these discussions and have agreed to not renew the agreement.

Discussions are ongoing as to how to transition BlastX back to Next Science and the subsequent timing of this.
Both parties appreciate the work that they have accomplished together and the care collectively provided to patients.
The transition plan will prioritise the continuous supply of BlastX and non-disruption of patient care.

Next Science will update the market in respect of further developments in accordance with its continuous disclosure obligations.

Approved and authorised by Next Science’s Managing Director.