Medtronic pays $8 million for Cardima's patents:
This article was originally published in Clinica
Medtronic is to pay $8 million for part of Cardima's patent portfolio and related intellectual property relating to intravascular sensing and signal detection and some guiding catheters. Fremont, California-based Cardima has a co-exclusive, perpetual, fully-paid licence to use the patents for mapping and ablation, its core business. "This transaction enables us to get full value for an area of business we were not previously focused on, to gain non-dilutive funds and to stay focused on completing our atrial fibrillation phase III clinical trial," said Gabriel Vegh, Cardima's president and CEO.