CryoLife finds FibRx development partner:
This article was originally published in Clinica
Bayer (Germany) has paid CryoLife $250,000 for exclusive rights to negotiate the terms and conditions of a worldwide licence for CryoLife's patented fibrin-based bioadhesive, FibRx. The agreement provides Bayer with a six month review period and, if a licence is granted, the companies will develop the product together in the US (see Clinica No 693, p 15). Bayer will be responsible for development of the product in rest of the world. Provided both agree to the terms, CryoLife may receive development and milestone payments up to $25 million.