Mallinckrodt to pay up to $47.5 mil. in expanded pact with Molecular Biosystems.
This article was originally published in The Gray Sheet
Executive Summary
MALLINCKRODT INVESTING UP TO $47.5 MIL. IN MOLECULAR BIOSYSTEMS to support commercialization of FS069, a next generation version of MBI's Albunex ultrasound contrast imaging agent. Under the agreement, announced Sept. 7, Mallinckrodt will buy $13 mil. of MBI stock for $11.62 per share, raising its stake in the company to 10%. Mallinckrodt also will provide $20 mil. over four years to fund FS069 clinical trials and "associated product development." An additional $14.5 mil. for milestone payments and "further clinical funding" could bring the total value of the deal to $47.5 mil.