LungLife AI, a developer of clinical diagnostic solutions for lung cancer, has entered into an exclusive license and distribution agreement with Circulogene Theranostics, a US liquid biopsy diagnostics company. The agreement grants Circulogene the exclusive rights to improve, develop, market, and sell LungLifes LungLBยฎ <mark style="background-color:yellow">test</mark> in the US, along with its software and intellectual property. LungLife will receive an advanced payment of $375,000, followed by a second payment of the same amount upon completion of the agreement. LungLife will also receive royalty payments of 20% of net revenue collected by Circulogene for the first year, with a minimum guaranteed amount. The agreement includes an asset purchase option for Circulogene to acquire LungLifes licensed IP and equipment for $6.2 million. LungLifes CEO, Paul Pagano, expresses enthusiasm for the partnership, while Circulogenes CEO, Mike Mullen, highlights the potential impact of LungLBยฎ on lung cancer detection. The agreement is expected to reduce LungLifes operating activity, leading to a proposed cancellation of its admission to trading on AIM, with shareholder approval to be sought.