BASEL, Switzerland, Jan. 18 /PRNewswire/ - Neuro-Biotech Corp. (PINKSHEET: MRES) (OTCQB: MRES) announces that it has concluded a Business Development Agreement with Credo-TM, a Russian company. The Agreement provides for an exclusive right to distribute all Neuro-Biotech proprietary blood analysis kits and NeuroCeuticals™ in territories such as Russia, Belarus, Ukraine and Kazakhstan. Furthermore this agreement binds Credo-TM to a minimum yearly order of 500,000 test units for a term of 10 years. Both parties have agreed on an initial price of $55.00 USD per unit for its initial launch. The pricing for subsequent years may be subject to change.
Over the next three month, Credo-TM will be selecting the laboratories mandated to undertake the tests analysis. Neuro-Biotech will be overseeing the technician training program for protocol analysis application.
Credo-TM, a private entity, was created by a group of professors and doctors from one of Russia's oldest and largest human physiological health laboratory. The company is based in the Techno Park area of Kazan City in the Russian Federation. Over the past several years Credo-TM has developed, with the help of government grants, a solid distribution network of advanced and modern medical products in countries such as Russia, Belarus, Ukraine and Kazakhstan. Close to 1200 medical centers and hospitals are using the services of Credo-TM today. The Company's initial effort was the distribution of diagnostic tests for diabetes, pregnancy as well as tuberculosis (early stage). Over the past 3 years, more than 300 employees have joined Credo-TM.
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SOURCE Neuro-Biotech Corp.