Xtent seeks buyer
This article was originally published in The Gray Sheet
Developer of the Custom NX biolimus A9-eluting stent with adjustable lengths and bioabsorbable polymer will pursue "strategic alternatives," including the possible sale of some or all of the firm's assets, Xtent says Jan. 23. The Menlo Park, Calif.-based company, which went public in 2007, plans to eliminate 112 of its 121 employees as of March 23. The firm cites "continued challenges" in the capital markets. Data on the stent, which has been evaluated in four human trials, was presented at TCT last October (1"The Gray Sheet" Oct. 20, 2008, p. 15)
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Developer of the Custom NX biolimus A9-eluting stent with adjustable lengths and bioabsorbable polymer plans to liquidate its assets and dissolve the company, subject to shareholder approval, Xtent announces May 15. The firm cited "continued challenges" in the capital markets when it eliminated most of its employees and began looking for buyers in January (1"The Gray Sheet" Feb. 2, 2009, In Brief)
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