ULURU, Altrazeal, IPMD Execute License Purchase And Termination Agreement

(RTTNews) - ULURU Inc. (ULUR) announced the company, Altrazeal Trading and IPMD GmbH have executed a License Purchase and Termination Agreement. ULURU has acquired from Altrazeal Trading and IPMD certain territorial distribution agreements and related distribution consulting agreements, under which local distributors will distribute Altrazeal products in various countries in the designated territories. ULURU has agreed to pay Altrazeal Trading and IPMD, collectively, a net transfer fee of 2.27 million euros, which is net of amounts owed by Altrazeal Trading to the company.

On May 14, 2015, ULURU announced it would be acquiring the 75% ownership of Altrazeal Trading GmbH not already owned by the company. The companies announced, the acquisition, which was delayed due to certain due-diligence activities and other matters, has been terminated.

ULURU also announced that an exclusive agreement for the marketing and distribution of Altrazeal across various countries in Latin America was recently finalized. A separate exclusive agreement for the marketing and distribution of Altrazeal in Kenya, Tanzania, Ruanda, and Uganda was also finalized. ULURU, Altrazeal Trading, and IPMD have terminated the License and Supply Agreement dated January 11, 2012.