The strategic alliance includes a product development and licensing agreement, a distribution agreement and the establishment of a joint venture sales and marketing company in India.
The alliance will give NPIL an exclusive license to DxTech's Vantix platform in India, Pakistan, Bangladesh, Srilanka, Nepal and Bhutan. Vantrix platform has the potential to transform diagnostic testing in a range of emerging markets, including Asia, part of Europe and Central and Latin America.
In return, NPIL has paid a multi-billion-dollar up front fee and will pay three further product development fees, based on specific milestones over the next 18-36 months, each for at lease $ 1 million.