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CryoLife finds FibRx development partner:

This article was originally published in Clinica

Executive Summary

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.

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