Hathaway has entered into a letter of intent for a joint venture with U & I Bio-Tech, a South Korean medical device company, for BioHarp.
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BioHarp is a diagnostic medical device currently in development by U & I. BioHarp’s patented technology is expected to provide physicians with the capability to diagnose a variety of ailments quickly, accurately, and in a totally safe and non-invasive manner.
Paul Lisenby, CEO of Hathaway, said: “We are very excited about adding the BioHarp product line, with its massive worldwide marketing potential, to Hathaway’s group of companies. Our experience in this area makes this project a great fit. We have already commenced our due diligence, which will include exploring different market segments for BioHarp, as well as regulatory clearance in various countries, such as the FDA in the US. Once all our parameters are met, we plan to close the deal in 45-60 days.”
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