08:52 AM EDT, 07/15/2024 (MT Newswires) -- Autonomix Medical ( AMIX ) said Monday it has signed a definitive agreement with private medical technology firm RF Innovations for licensing the intellectual property to its Apex 6 Radiofrequency Generator.

Apex 6 Generator is a US Food and Drug Administration-cleared ablation technology for lesion neural tissue to reduce pain in the peripheral nervous system.

The transaction, for 250,000 shares of common stock, provides a perpetual non-exclusive worldwide and royalty-free license to Autonomix for the Apex 6 Generator intellectual property, the company added.

The company expects to close the transaction before the end of this month.

Shares of the company rose 78% in recent Monday premarket activity.

Price: 1.1000, Change: +0.50, Percent Change: +83.33