It has been revealed in a new report that BioDiem has been given the license for a new technology to treat dengue fever.

As per the findings, the licensing deal for the drug has been signed both by John Curtain School of Medical Research of the Australian National University as well as BioDiem. The company’s shares were $0.060 on Monday.

While the deal had been finalized in the starting of this month, its terms and conditions have now been set by both the parties.

Dengue is a fatal fever that causes a person to suffer headache, joint pains, skin rashes and fever. It has been told that mosquito bites are responsible for one to contract the disease. The highly infectious illness tends to affect nearly 50 million up to 100 million people at the maximum each year.

And the number may continue to rise as there is no vaccine available for the fever currently. As per the deal, BioDiem would use the technology and would be providing royalties on products. Also, it would be contributing for patent registration costs.

It is being said that the pioneering technology may be helpful in the way to develop vaccines for other transmissible disease as well.