PulseCath B.V. and Huadong Medicine Co. Ltd. announced that the companies have entered into an exclusive collaboration to develop and commercialize the iVAC technology in mainland China, Hong Kong, Macau and Taiwan (Greater China) and selected other Asian Pacific countries. The collaboration agreement between PulseCath and Huadong provides Huadong Medicine with a license to distribute iVAC technology in mainland China, Hong Kong, Macau and Taiwan (Greater China) and selected other Asian Pacific countries as well as for local manufacturing and development. PulseCath will retain all rights in the rest of the world. Under the terms of the agreement, PulseCath will receive a significant investment in the company's share capital and is eligible to receive a further investment as a result of potential development and regulatory milestones. In addition, PulseCath will receive a payment for regulatory activities and production in China dedicated to Greater China and selected other Asian Pacific countries. PulseCath is also eligible to royalties on iVAC's commercial sales by Huadong Medicine in their commercial region. Huadong Medicine will be responsible for the development as well as regulatory submissions and commercialization of iVAC in Greater China and selected other Asian Pacific countries. Huadong Medicine will also have the opportunity to participate in global clinical studies of PulseCath conducted by PulseCath. PulseCath will continue to be responsible for the development and commercialization of iVAC in Europe, the United States, and other geographies.