SelleMix announced on the 1st that it has signed a license and supply agreement with U.S.-based Achieve Diagnostics, LLC (AchieveDx). Under the agreement, SelleMix will license its proprietary technology to the counterparty and supply related diagnostic kits.

■ Total Minimum Commitment of 9.92 Billion Won... No Upfront Payment or Milestones

This contract includes no fixed total contract amount in the form of upfront payments or milestones. SelleMix's actual revenue will consist of royalties based on tests performed and kit sales proceeds.

Royalties under the three-year cumulative minimum commitment amount to 2.475 million dollars (approximately 3.39966 billion won), and the minimum kit purchase amount is 4.75 million dollars (approximately 6.5246 billion won). The combined minimum commitment totals approximately 9.92426 billion won, equivalent to 172% of the company's 2025 consolidated revenue of 5,767,635,388 won. The conversion to Korean won was based on the exchange rate of 1,373.60 won per dollar as of September 1.

■ Royalty Set at 20% of Net Sales

The royalty has been set at 20% of the net sales from licensed tests performed. The minimum three-year net sales from licensed tests are 12.375 million dollars (approximately 16.9983 billion won).

■ Three-Year Contract Term... Automatic One-Year Renewals

The contract term is three years, from August 31, the effective date, through August 30, 2029. Thereafter, unless either party gives notice of refusal to renew at least 90 days before the contract's expiration, the contract will be automatically renewed on a one-year basis.

■ Payment Terms

Royalties are paid within 30 days of invoice issuance following quarterly settlement. Kit payments are made within 30 days of invoice issuance after product supply upon receipt of purchase orders.

■ Measures in Case of Shortfall Below Minimum Commitment

If the cumulative net sales or kit purchase amounts as of the end of each contract year fall short of the minimum commitment, the counterparty must, within 30 days, either pay 20% of the shortfall as a royalty-equivalent amount or submit a purchase order for diagnostic kits corresponding to the shortfall.

If the shortfall is not resolved within the deadline, SelleMix may convert the license to non-exclusive status through written notice, in which case the contract itself remains in effect.

SelleMix stated that the contract amount is calculated based on the minimum commitment, and actual revenue may vary depending on future licensed test sales and the receipt of purchase orders (POs).