This article was originally published in The Gray Sheet
Enter pact under which Scimed obtains an exclusive license to patents used in the manufacture of Endosonics subsidiary CVD's Transport angioplasty/drug delivery catheter in the cardiovascular market. CVD retains rights to the technology for other markets such as peripheral and neurovascular. Minneapolis-based Scimed will make an undisclosed equity investment in CVD in exchange for the patent rights, as well as "incremental" product development funding and royalty payments on product sales. The companies "will collaborate on research and development programs to further develop" the technology, CVD says. CVD retains sole marketing rights for the technology in all other markets, as well as all rights to its Bullett drug delivery catheter and its other angioplasty technologies
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