MacroPore Biosurgery, Inc. sells bioresorbable thin film product line to MAST Biosurgery AG
MacroPore Biosurgery has received an initial payment of $6.72 million. MacroPore Biosurgery will receive an additional $0.28 million within three weeks, and a $2.0 million payment, or $2.0 million worth of stock in MAST, no later than the second quarter of 2005. MacroPore Biosurgery will act as a short-term backup supplier of products to MAST. Further, MacroPore Biosurgery retains all thin film rights for the Japanese market, an exclusive license to bioresorbable thin film for the spinal market and a perpetual nonexclusive license to bioresorbable thin films in connection with regenerative cell technology. MAST has a three year option to acquire the right to bioresorbable thin films for the Japanese market from MacroPore Biosurgery for at least $3.0 million, plus substantial, contingent additional consideration pursuant to a business development agreement between MAST and MacroPore Biosurgery.
Other news from the department business & finance
Get the life science industry in your inbox
From now on, don't miss a thing: Our newsletter for biotechnology, pharma and life sciences brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.