Precision Optics enters licensing pact for cystoscopy robotic surgery system

Precision Optics announced it has signed a production and technology license agreement with a leading surgical robotics company to supply a single-use endoscope assembly used in their cystoscopy robotic surgery system. The agreement arises following joint product development initiatives between the two companies over the past eighteen months, relying heavily on Precision Optics Corporation’s unique micro-optics and digital imaging technologies. Production of the endoscope assembly is expected to occur at POC’s facilities beginning in the next six to twelve months and to continue for the foreseeable future. Should our customer later decide, however, to transfer production to one of their facilities or to a third-party manufacturer, POC would support the transfer and reap the benefits under the agreement’s multi-year royalty provisions governing manufacturing at non-POC facilities.