Datavault AI's Exclusive License to Scilex for Biotech Exchange Platform - Key Questions Answered
TL;DR
Datavault AI's exclusive license with Scilex creates a first-mover advantage in the $2 trillion biotech tokenization market with potential for $2.55 billion in milestone payments.
Datavault AI's technology enables tokenization of biotech assets through AI-driven blockchain solutions, creating exchange platforms for genomic data and pharmaceutical information.
This technology enables biotech companies to access non-dilutive funding, accelerating medical research and drug development for better healthcare outcomes worldwide.
Datavault AI's deal combines AI, blockchain, and biotech to create digital twins of pharmaceutical assets, revolutionizing how medical data is valued and traded.
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Datavault AI has granted Scilex Holding Company an exclusive worldwide license to deploy its proprietary AI-driven technology for building and operating a Biotech Exchange platform that will tokenize, trade, and monetize biotech assets such as genomic data, diagnostics, and drug information.
The agreement involves Datavault AI (NASDAQ: DVLT), a leader in AI-driven blockchain solutions for data monetization and asset tokenization, and Scilex Holding Company, which will build and operate the Biotech Exchange platform using Datavault AI's technology.
The platform will handle biotech assets including genomic data, diagnostics, and drug information, with potential expansion into a broader Pharmaceutical Exchange platform.
The deal includes a $10 million upfront payment in four installments and up to $2.55 billion in potential milestone payments, supported by Datavault AI's broad patent portfolio and high-performance computing expertise.
Datavault AI expects the technology to expand into a Pharmaceutical Exchange platform addressing an estimated $2 trillion market opportunity, providing companies with access to non-dilutive funding.
Datavault AI provides its proprietary AI-driven technology, broad patent portfolio, and proven high-performance computing expertise, including their Information Data Exchange (IDE) that enables Digital Twins and licensing of name, image, and likeness by securely attaching physical real-world objects to immutable metadata objects.
Datavault AI is headquartered in Beaverton, OR, and serves multiple industries including sports & entertainment, events & venues, biotech, education, fintech, real estate, healthcare, and energy through their cloud-based platform.
Scilex has been granted an exclusive worldwide license, meaning they have exclusive rights to deploy Datavault AI's technology in the biotech and biopharma sectors globally.
Readers can view the full press release at https://ibn.fm/HAV6r and learn more about Datavault AI at www.datavaultsite.com.
Curated from NewMediaWire
