May 15, 2018 / 11:24 AM / 2 months ago

BRIEF-Helius Medical - If Co Fails To Ensure Commercialization Of Pons Treatment Is Available For U.S. Government By Dec. 31, 2021, Co May Forfeit Right To Pursue Commercialization

May 15 (Reuters) - Helius Medical Technologies Inc:

* HELIUS MEDICAL TECHNOLOGIES - IF CO FAILS TO ENSURE COMMERCIALIZATION OF PONS TREATMENT IS AVAILABLE FOR U.S. GOVERNMENT BY DEC. 31, 2021, CO MAY FORFEIT RIGHT TO PURSUE COMMERCIALIZATION

* HELIUS MEDICAL - IF CO FAILS TO OBTAIN FDA MARKETING AUTHORIZATION OF PONS DEVICE BY DEC 31, 2021 CO WILL BE IN BREACH OF CRADA IF TERMINATION DATE IS NOT EXTENDED

* HELIUS MEDICAL- IF CO FAILS TO OBTAIN MARKETING AUTHORIZATION, ENSURE PONS DEVICE IS AVAILABLE FOR GOVERNMENT BY DEC. 31, 2021, CO MAY BE REQUIRED TO PAY $2 MILLION TO A&B

* HELIUS MEDICAL- LOSS OF CO'S ABILITY TO EXCLUSIVELY MARKET AND SELL THE PONS TREATMENT WOULD HAVE A MATERIAL ADVERSE EFFECT ON ITS BUSINESS Source text: (bit.ly/2jVt4ZU) Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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