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Financings in Brief: ThermoLase

This article was originally published in The Gray Sheet

Executive Summary

ThermoLase: Agrees to acquire 10% stake in AntiCancer Inc. via a $4.4 mil. investment in the San Diego biotech firm. ThermoLase says a technology under development by AntiCancer "has potential to enhance the effectiveness of the Thira cream used in ThermoLase's SoftLight hair-removal process." AntiCancer technologies also show promise for use in "permanent hair coloring and for enhanced hair growth," ThermoLase says, noting that it has entered a separate agreement licensing the technology for "these and other potential hair-related products." The exclusive, worldwide licensing agreement calls for ThermoLase to pay $100,000 up front and up to $1.5 mil. in milestone payments, as well as royalty payments on "any products developed"...

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