Embryo Development Corp.

• Public
• US

Dow Jones Description

Embryo Development Corporation is a Delaware corporation (the "Company" or "Embryo"), which was organized in March 1995 to develop, acquire, manufacture and market various bio- medical devices. The Company has not derived any significant revenues since its inception. The Company was a licensee to seven (7) license agreements (the "License Agreements") and two (2) royalty sharing agreements (the "Royalty Sharing Agreements") with Dr. Lloyd Marks which provided for the exclusive license of seven medical devices and the sharing of royalties of two (2) medical devices, all of which had been developed by Dr. Marks ("Marks Medical Devices"). As of January 2001, all of these licenses had been terminated. The termination of the above license agreements followed a determination by management to conserve capital and that the products licensed could not profitably be developed and commercially marketed by the Company at this time. The Company holds patents to five (5) other medical devices and was the exclusive licensee of one (1) medical device in the areas of emergency medical equipment and peritoneal dialysis warming devices. Although the Company holds the patents and rights to these products, management does not believe that these products have any viable marketability at this time.

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