As per the agreement, which comprises an initial cash license fee and a per-unit royalty of the greater of $50 or 20% of the gross purchase price paid to Advanced Dosage, Imprimis will be allowed to produce, market and sell its formulations across the Canadian markets.
Brands developed by Imprimis including Go Dropless and LessDrops will also be launched in Canada under the agreement.
Advanced Dosage principal John DiGenova said: "We are committed to Imprimis and have already begun to build out a sales and marketing team to call on ocular surgeons that perform cataract, LASIK and other ocular surgeries to educate them of the benefits of Dropless Therapy and Combination Drop Therapy formulations.
"Canadian ophthalmic surgeons, like their counterparts in the US, desire innovative solutions to improve their practices and create enhanced experiences for their patients."
Imprimis CEO Mark L Baum said: "We plan to make our proprietary ophthalmic compounded formulations available internationally, and our expansion into Canada is an important first step to help us accomplish this mission."
The agreement will also require certain diligence on Advanced Dosage’s part and will provide for the conversion of the license to an exclusive license on or before 31 December, 2015.