In Brief: Selfcare/J&J LifeScan
This article was originally published in The Gray Sheet
Selfcare/J&J LifeScan: Finalize distribution agreement under which Waltham, Massachusetts-based Selfcare's advanced electrochemical blood glucose monitoring system will be distributed by the J&J subsidiary. The advanced system has not received FDA clearance, although a simpler model was 510(k) cleared June 28 ("The Gray Sheet" June 17, p. 26). LifeScan has paid Selfcare a $7 mil. success fee, and a LifeScan affiliate has converted its loans of $13.7 mil. to Selfcare into 201,622 shares of Selfcare common stock. Pursuant to a Nov. 10, 1995 agreement between LifeScan and Selfcare, the LifeScan affiliate will receive approximately 278,000 additional shares equal to 5% of all common stock...
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