Guided Therapeutics receives $80,000 installment from Chinese distributor

Guided Therapeutics, Inc. (OTCQB: GTHP) announced it received an $80,000 payment from Hangzhou Dongye Medical Technology Company Ltd (HDMT), representing the fourth installment of a $700,000 purchase order placed by the Chinese distributor.

According to the company's press release, four LuViva Advanced Cervical Scan devices are expected to ship later this year, bringing the total number of devices shipped to 11 of the 35 devices due under the agreement. HDMT operates in Hangzhou City, Zhejiang Province, where it serves as the exclusive gynecology products provider for 42 hospitals that conduct approximately two million cervical cancer screenings annually.

Guided Therapeutics also noted a separate agreement with Yuanshuo Medical Instruments Corporation (YMIC), headquartered in Jiangsu Province, under which YMIC agreed to purchase 50 LuViva devices and 500,000 single-use components, contingent on approval from China's National Medical Products Administration (NMPA). YMIC intends to serve as the exclusive distributor of LuViva products in Jiangsu Province.

The LuViva Advanced Cervical Scan is classified as an investigational device and is limited to investigational use in the United States under federal law.

You May Also Be Interested In

• GoodVision AI signs forward purchase deal covering up to 3M Calisa shares
• Group 1 Automotive adds Conifer Management investor to its board
• FDA approves Lantheus' Bravnetsa as equivalent to Lutathera for GEP-NETs