Cook Medical expands vascular closure device alliance with Cardica:
This article was originally published in Clinica
Cardica is to develop an additional vascular closure product for Cook Medical, following the expansion of an existing product development agreement. Cook will pay Redwood City, California-based Cardica up to $750,000 for the product design and pre-clinical development of the product, which will incorporate the latter's proprietary microclip technology. Cardica will also benefit from royalties on future sales of the product. Cook, of Bloomington, Indiana, will be responsible for clinical development and regulatory approval, and have exclusive commercialisation rights. The two companies became partners in June to collaborate on a device for treating patent foramen ovale (PFO), a congenital defect commonly known as "hole in the heart" (see Clinica No 1262, p 13).