ITUS CORPORATION (NASDAQ:ITUS) Files An 8-K Other EventsItem 8.01 Other Events.
On August 16, 2017, ITUS Corporation (the “Company”) entered into a separation agreement (the “Agreement”) with Robert Berman, the Company’s former President and Chief Executive Officer. Mr. Berman had resigned on July 6, 2017. to the terms of the Agreement, Mr. Berman is entitled to receive severance payments in an aggregate amount of $300,000 to be paid in four separate tranches with the final payment occurring on June 1, 2018.
About ITUS CORPORATION (NASDAQ:ITUS)
ITUS Corporation is engaged in developing a diagnostic platform called Cchek, for the early detection of tumor-based cancers. The Cchek cancer detection platform measures a patient’s immune response to a malignancy by detecting the presence, absence and quantity of certain immune cells that exist in and around a tumor and that enter the blood stream. Instead of seeking to alter or boost the body’s immune system and its ability to destroy cancer cells, the Company has developed techniques and protocols for measuring the subtle immunological changes that occur in the blood stream during tumor development. Through its protocols, the Company has detected the biomarkers in the peripheral blood of biopsy verified cancer patients, and in distinguishing the blood of healthy patients from the blood of cancer patients.
