PMGC (ELAB) subsidiary NorthStrive Defense Tech has entered into a standard exclusive license agreement with the Florida State University Research Foundation, covering patent rights and related know-how for a novel multi-domain drone payload technology.
The company said the agreement concerns US Patent No. 12,291,334 and related know-how, including software, methods, data, and algorithms related to the control and navigation of the multi-domain parcel transportation system.
The technology covers a drone system designed to transport cable-suspended payloads across air and water environments, the company said.
The license covers exclusive rights to the patent and non-exclusive rights to the related know-how, PMGC said. The agreement also includes sublicensing rights, and the license term extends for the life of the patent.
Financial terms include customary license fees, annual maintenance fees, earned royalties on net sales, minimum annual royalties, and sublicensing revenue payments, PMGC said.
Shares of PMGC were down more than 8% in Monday pre-bell activity.
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