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Financings In Brief

This article was originally published in The Gray Sheet

Executive Summary

NitroMed stent investment: Boston Scientific extends R&D collaboration with pharmaceutical firm through 2005 to develop nitric oxide elution compounds that can be used on vascular stents to "complement" Taxus line. The agreement, which expands the firms' original 2001 deal, consists of a $3 mil. up-front payment, adding to the $4 mil. equity investment and $1.5 mil. R&D payments already made by Boston Scientific. NitroMed also will receive milestone payments for development and commercialization targets, as well as royalties if a product is brought to market. Over the past year, Boston Scientific also has invested in Rubicon Medical, 3F Therapeutics and Innovia...
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