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Biocentric President Dennis Fisher announced that the company is in serious negotiations for the exclusive licensing of the closed loop photobioreactor system, with an Asian country. Mr. Fisher also indicated the exclusive licensing fee for the entire country was a significant amount and that a consummated contract is anticipated during August 2009.
Company COO Mr. Dennis Shen returned from China earlier this week and confirmed the Teaming agreement with Zhenxing Co was fully executed, and the company is now able to leverage the resources in China to design and manufacture certain components for Biocentric's global operations. Mr. Shen will be returning to China in the second week of August to finalize additional negotiations.
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