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(GWANGJU=Yonhap News) Gwangju Metropolitan City is accelerating the commercialization of its medical microrobot industry.
The Medical Microrobot Center (MRC) in Gwangju announced October 29 that it is scheduled to sign a technological transfer agreement with U.S.-based BIOT the next day at the Korea Federation of SMEs (KBIZ) in Yeouido, Seoul.
The scale of the technological transfer will be KRW 2 billion in initial payment, and 2 percent of sales as running royalty.
This will be the largest deal since the the MRC research center first opened.
The technology to be transferred was developed at Chonnam National University.
The signing ceremony will be attended by representatives of the university, MRC and BIOT, and feature an introduction to the center, the actual signing of the agreement, and a presentation of the city's medical microrobot industry commercialization project.
nicepen@yna.co.kr
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Source: Yonhap News (Oct. 29, 2017)