In Brief: Neoprobe/USSC
This article was originally published in The Gray Sheet
Executive Summary
Neoprobe/USSC: Firms terminate marketing agreement for Neoprobe's RIGS surgical cancer detection/lymphatic mapping products. Neoprobe and U.S. Surgical Corp. co-developed the technology under a September 1996 agreement which called for USSC to pay the majority of a $5.5 mil. investment to Neoprobe upon U.S. and European approval of the first product, the RIGScan CR49 for colorectal cancer detection, in exchange for receiving exclusive worldwide sales rights (excluding Korea, Thailand, Taiwan and Singapore). A biologics licensing application for the RIGScan CR49, submitted by Neoprobe last December, has yet to be approved by FDA ("The Gray Sheet" July 21, I&W-5)...
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