Abreos Biosciences and LifeAssays have formed a jointly owned company. Abreos and NewCo have also entered into a licensing agreement which enables the new company, under certain conditions, to develop and sell new products and services based on the licensed technology. The jointly owned company is a Swedish limited liability company which will be financed separately, with a public listing as a possible route. LifeAssays and Abreos have entered into a shareholder agreement that governs the control and ownership of the new company. License Agreement The license agreement provides the new company with an exclusive license to use, among other things. patents, applications and technical know-how from Magnasense and Abreos to develop and sell new products and services for biologic drug monitoring. Starting from 2022, the new company will pay a royalty to LifeAssays and Abreos, respectively, of 4% of annual revenue from products and services based on the licensed technology. The license agreement becomes effective when the new company (i) has received investments at least equivalent to USD 250,000 and (ii) the development agreements have been entered into.