"Provectus today announced that Provectus has entered into an option agreement with OBC for an exclusive worldwide license of intellectual property developed by OBC for the use of OBC's photodynamic antimicrobial therapy (PDAT) medical device in combination with Provectus' proprietary pharmaceutical-grade rose bengal for the treatment of bacterial, fungal, and viral infections of the eye. Provectus  also initiated a sponsored research program with OBC to investigate Provectus' rose bengal for the treatment of infectious keratitis"

 

To me, this reads that PVCT wanted to use the device OBC invented and has IP rights over so that PVCT can combine that machine with PVCT's Rose Bengal in order to study the treatment of bacterial, fungal, and viral infections of the eye.

 

Additionally, PVCT is paying for OBC to investigate Provectus' rose bengal to study the treatment of infectious keratitis using OBC's device.

 

PVCT wants to use it's rose bengal as a photosensitizing agent for photodynamic therapy (PDT) on fungal isolates that are common causes of fungal keratitis.

 

This is the device that Provectus wants to use. It uses a green light-emitting diode (LED) array (peak wavelength: 518 nm).

 

In summary, PVCT wants to OBC's medical device to further study its use with rose bengal and OBC agreed. What this means in terms of money, if any, that wasn't made public. Provectus wanted use of OBC's device. It doesn't say anywhere that OBC wanted PVCT's rose bengal. The details of the agreement aren't public that I know of.

 

Either way, this is a really good thing that OBC agreed to this. Based on the studies that I've seen, this is all very promising in this sector. If two entities can't bring their two products together, it's dead from the start. I think OBC understands, based on their studies, that there's something to this treatment and I'd have to assume that the license for using their machine is because they recognize the potential.