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 LungLB® <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 LungLB® 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.