TLDR:
- Datavault AI teams up with Scilex to launch Biotech Exchange platform.
- DVLT stock drops 3.86% despite $10M license agreement with Scilex.
- Datavault AI secures $2B in milestone payments from Scilex deal.
- New Biotech Exchange platform aims to tokenize biotech assets.
- Datavault AI partners with Scilex to revolutionize biotech data management.
Datavault AI Inc. (DVLT) experienced a 3.86% decline in stock value, closing at $ 1.78 on the market today.
The company announced a significant development, granting Scilex Holding Company (SCLX) an exclusive, worldwide license for its proprietary AI-driven technology. The agreement aims to fuel the creation of a Biotech Exchange platform, positioning Datavault AI’s technology as central to the biotech and biopharma industries.
Datavault AI Partners with Scilex to Build Biotech Exchange
Datavault AI has granted Scilex an exclusive license for its AI-driven solutions. This collaboration aims to create a platform for tokenizing biotech assets, including genomic data, diagnostic products, and drug data. The platform will help facilitate secure trading and monetization of these assets, advancing data management in the biotech sector.
Scilex gains access to Datavault AI’s cutting-edge data platforms and intellectual property. The agreement’s focus is on the biotech industry but may extend into pharmaceutical applications. The companies see this technology as a means to unlock up to $2 trillion in potential pharmaceutical sales through tokenization.
Datavault AI Expands its Intellectual Property Reach
Datavault AI continues to grow its intellectual property portfolio. It holds multiple issued and pending patents, with key patents such as the “Platform and Method for Tokenizing DNA Data.” These patents form the foundation of the new Biotech Exchange platform, ensuring secure data handling and monetization for biotech assets.
The company also holds patents for data-driven advertising systems and tokenized licensing models. These systems support the exchange ecosystem and enhance the platform’s capabilities. This comprehensive patent suite strengthens Datavault AI’s position as a leader in AI-powered data solutions for biotech and beyond.
The collaboration builds on Datavault AI’s previous work with Brookhaven National Laboratory and its Bioenergy Digital Twins Platform. These partnerships demonstrate Datavault AI’s ability to implement AI in various industries, including bioenergy and now biotech. The Scilex deal marks the company’s next step in advancing its platform into more sectors.
Revenue from the Scilex Agreement to Propel Datavault AI’s Growth
Datavault AI stands to gain significant financial benefits from the agreement with Scilex. Under the terms, Datavault AI will receive nonrefundable upfront license payments in four installments, totaling $10 million. The company is set to receive up to $2.55 billion in milestone payments as Scilex meets specific sales targets.
These payments will help fund Datavault AI’s continued innovation and expansion. The company’s growth prospects appear strong, with the potential for further partnerships in the biotech and pharmaceutical industries. As the Biotech Exchange platform develops, Datavault AI aims to play a pivotal role in the future of data monetization in these fields.
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