Zomedica Corp. announced a strategic restructuring of its existing development and commercialization agreements with Qorvo Biotechnologies ("Qorvo") for the Company's TRUFORMA® line of products. Under the agreements, Zomedica will take control of aspects of the TRUFORMA product line previously provided by Qorvo, including development of new assays and manufacturing both instruments and assay cartridges.

This positions Zomedica to invest in accelerated development of new TRUFORMA assays and to improve margins once it begins manufacturing directly. Zomedica will provide up-front licensing and certain milestone payments, including the option to extend exclusive rights for TRUFORMA in the veterinary health market in perpetuity. A related agreement provides Zomedica the right to purchase Bulk Acoustic Wave (BAW) sensors from Qorvo for inclusion in TRUFORMA products.

While Qorvo will continue to work with Zomedica to develop the TRUFORMA assays currently planned, including the first assay for the equine market and several assays for non-infectious gastrointestinal disease in the veterinary health market, Qorvo has agreed to provide technology transfer assistance so Zomedica can undertake all future new assay development for the TRUFORMA product line and to install manufacturing capabilities at the Zomedica Global Manufacturing and Distribution Center in Roswell, GA.Zomedica will have control of development, manufacturing and commercialization of the TRUFORMA product line following this transfer period. Zomedica expects the manufacturing transfer process to take up to 18 months as specialized manufacturing equipment is produced and installed at Zomedica's facility.