Mallinckrodt invests more in Molecular Biosystems (MBI)
This article was originally published in Clinica
Mallinckrodt is extending its 1988 agreement with Molecular Biosystems with an additional equity investment and further funding for MBI's ultrasound contrast agent, FS069. Under the agreement, which has to be reviewed by the US Federal Trade Commission for antitrust issues, Mallinckrodt will acquire a 10% stake in MBI through the purchase of $13 million of MBI common stock at $11.62 a share. MBI will also receive a further $20 million over four years for development of FS069 and an additional $14.5 million may be paid by Mallinckrodt for clinical funding and milestone achievements.