VeraLight’s Scout DS system is the non-invasive diabetes screening system for prediabetes and type2 diabetes based on the presence of biomarkers found in the skin related to diabetes.
Scout DS test does not require blood draw, fasting, and waiting for a lab result.
Scout DS has received clearance from Health Canada for commercial distribution and it has been granted a CE Mark in the European Union, and is also cleared for sale in Mexico.
The term sheet includes pricing, future milestone payments, ongoing responsibilities and and considerations related to an equity position in Miraculins by VeraLight and participation on Miraculins board of directors.
The execution of definitive documentation and the completion of the transaction include all necessary contractual, regulatory and corporate approvals of both the companies and the completion of satisfactory due diligence by Miraculins.
