Medical device group Creo Medical said Monday it had tweaked its distribution agreement with Hoya Group, Pentax Medical, extending the term of the latter's distribution rights for Asia pacific region. Creo made an addendum to the original agreement extending the term of Pentax's distribution rights in each territory in which Pentax establishes Creo's Clinical education programme for a period of 5 years. The extension would come into affect from the date on which the Creo's speedboat product is registered in a territory. 'The addendum further entrenches Creo's relationship with Pentax with firm commitment to roll out to various territories in conjunction with establishing Creo's Clinical Education Program and thereafter seeding the chosen markets,' the company said. Creo said it had commenced the regulatory registration process for its products in Australia and had begun introducing doctors from Australia and other territories to the clinical education program in Europe which would be rolled out into Asia Pacific in the coming months. Under the terms of the original distribution agreement, Creo granted Pentax the right to distribute Creo's Speedboat product and CROMA platform in the Asia Pacific region for 5 years subject to agreement of final terms by territory. 'The extension of our agreement with Pentax marks a significant milestone in the commercialisation of Speedboat, our lead product,' the company said.
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