Jan. 4, 2005 — Microvision Inc. (Nasdaq:MVIS), a Bothell, Wash., developer of light scanning technologies, announced it has signed its third contract with an Asian manufacturer of printers and office equipment. The contract is for the development of a MEMS-based scanning engine for high-speed laser printers.
The new contract builds on the work of two previous contracts and the resulting prototype development. The name of the Asian manufacturer and other details of the deal were not disclosed.
The company also announced it has entered into an exclusive license and product development agreement with Ethicon Endo-Surgery Inc., a subsidiary of Johnson & Johnson. Under the agreement, Microvision and Ethicon Endo-Surgery will collaborate to integrate Microvision’s technology into medical products.
Under the agreement, Ethicon Endo-Surgery will receive an option for an exclusive license to Microvision’s technology for human medical applications, except for ophthalmology. Microvision could receive up to $6.2 million dollars consisting of an upfront license fee and additional fees to develop and deliver prototypes.