IUT gains Oncologix radiation therapy tech
This article was originally published in Clinica
German analytic device manufacturer Institut für Umwelttechnologien (IUT) is set to add Oncologix Tech’s Oncosphere brachytherapy device to its product portfolio for a fee of $50,000. In return for all the assets of the product, Oncologix will receive a 20% equity in IUT Medical, a newly-formed subsidiary of IUT which will assume the Oncosphere. Oncologix will also receive royalties based on IUT Medical’s future revenues. The Oncosphere uses a radioactive micro-particle designed to deliver therapeutic radiation directly to soft tissue cancers.