PRINCIPAL TECHNOLOGIES ENTERS R&D AGREEMENT WITH OXFORD AND DIVESTS OF MAJORITY OWNERSHIP OF E&E CRO CONSULTING

Executive Summary

• Principal Technologies entered into an R&D agreement with the University of Oxford to develop and test a thermal sensor for medical applications, including cancer diagnosis and treatment.
• The company is reducing its ownership in Austrian subsidiary E&E CRO Consulting GmbH from 80% to 20%, selling the majority stake to existing management for nominal consideration, pending regulatory approvals.

Key Details

• R&D Agreement with Oxford
• Collaboration to develop and test Oxford’s proprietary thermal sensor technology.
• Target applications include at least seven proposed medical uses, notably cancer diagnosis and treatment.

• The agreement builds on a prior long‑term licence announced on April 8 2025.

• Management Quote

• “We are excited about the development phase of the thermal sensor,” said CEO Jerry Trent.

• Emphasized that developing these applications is now a main focus for the organization.

• E&E CRO Disposition

• Principal will reduce its stake from 80% to 20%, selling the commensurate shares to E&E CRO’s management.
• Sale price is nominal (no monetary consideration disclosed).

• Transaction subject to corporate and regulatory approvals, including acceptance by the TSX Venture Exchange.

• Strategic Rationale

• Review of operations led to a decision to focus on internal R&D activities.
• Company remains committed to supporting E&E CRO’s continued progress despite reduced ownership.

Notable Quotes

• “We are excited about the development phase of the thermal sensor,” – Jerry Trent, CEO, Principal Technologies Inc.