BIOLASE inks deal with P&G
This article was originally published in The Rose Sheet
Executive Summary
Dental laser company BIOLASE announces Jan. 25 it has signed a definitive licensing agreement with Procter & Gamble to provide intellectual property for the development of consumer products. P&G paid the Irvine, Calif. firm an upfront fee of $3 mil. and will pay BIOLASE royalties based on product sales, milestone payments and quarterly payments of $250,000 until the first product is launched. "This agreement with P&G opens the door for BIOLASE to participate in the consumer market alongside a proven leader in consumer products. We look forward to P&G bringing to the market new consumer products through this relationship," BIOLASE President and CEO Jeffrey W. Jones says. BIOLASE's LaserSmile system uses a laser to perform soft tissue and cosmetic procedures, including teeth whitening...