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Ablation assets

This article was originally published in The Gray Sheet

Executive Summary

CryoCath inks $10 mil. deal to acquire Endocare's cardiac-related product manufacturing operations in Irvine, Calif. The sale is subject to Endocare's clearing certain manufacturing and R&D milestones in 2003. Terms include the exclusive licensing of the Surgifrost cryoablation system to CryoCath in exchange for a nine-year descending royalty stream based on net sales. The deal represents the latest move by Endocare to divest non-core assets to concentrate resources on its Cryocare prostate cancer platform (1"The Gray Sheet" April 14, 2003, p. 27). SurgiFrost was developed through a partnership between the two companies and was approved to treat cardiac arrhythmias in February 2002 (2"The Gray Sheet" Feb. 3, 2003, p. 20)...

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