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news.Stellar Pharmaceuticals has agreed to a settlement of its dispute with its European licensee of Uracyst products, G Pohl-Boskamp & Co.
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Under the terms of the settlement, the license agreement will remain in full force and effect until March 31, 2008. Furthermore, Pohl-Boskamp has agreed to pay Stellar E200,000, payable in two equal installments of E100,000.
In addition, the royalty payments for the second quarter of 2007 will be due and payable together with the first installment of E100,000.
Canada-based Stellar markets the Uracyst Test Kit, its patented technology for the diagnosis and treatment of interstitial cystitis, an inflammatory disease of the urinary bladder wall.