An IP Pragmatics client, Harrison.AI, alongside partners Virtus Health, have entered into a transfer and collaboration agreement with Vitrolife (Sweden) for the “Ivy” Artificial Intelligence (AI) Technology.
Using time-lapse images during in vitro fertilisation (“IVF”) and before embryo transfer the Ivy technology can predict the likelihood of an embryo developing a foetal heart and viable pregnancy.
The initial payment from Vitrolife relating to the transfer of the IP is USD 6 million. In addition to the initial purchase price, additional payments of up to $2 million may be paid in relation to the achievement of product development targets over the next three years. Harrison.AI will share all revenue amounts equally with Virtus Health.
It was our pleasure to support Harrison.AI by framing the licensing deal.