Financings in Brief: Exten Industries
This article was originally published in The Gray Sheet
Executive Summary
Exten Industries: Acquires all remaining assets of its 91%-owned Xenogenex subsidiary in exchange for "forgiveness of approximately $740,000" in debt owed to Exten and "the assumption of certain other debts," Exten states. The acquisition includes "the patent rights and technical data" relating to the Sybiol artificial liver device used during transplant surgery. "The patent claims relate to the methods for providing continuous and sustained metabolism of human blood toxins" by hepatocyte cells from pig livers "through a semi-permeable membrane in a commercially available hollow fiber bio-reactor," the firm states. "The patent is currently pending and Exten is seeking FDA approval of the artificial liver process," Exten says...