Ceribell Inc. has announced a significant development in its ongoing collaboration with The Board of Trustees of the Leland Stanford Junior University. The company has exercised an option to extend its exclusive license for certain portable brain wave activity devices, under the Stanford Agreement. This decision, formalized in Amendment No. 4, allows Ceribell to maintain exclusivity through the expiration of the last-to-expire licensed patent. To secure this extension, Ceribell has agreed to pay an option exercise fee of $250,000. This strategic move reinforces Ceribell's commitment to advancing its innovative medical technologies in partnership with Stanford.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.