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Microbix Biosystems, Inc.
Drug Names(s): Urokinase, ABT-790, Abbokinase
Description: Abbokinase directly converts plasminogen to plasmin, an enzyme that dissolves clots.
Deal Structure: In April 2006, ImaRx acquired from Abbott Laboratories the assets related to Abbokinase, including the remaining inventory of finished product, all regulatory and clinical documentation, validated cell lines, and intellectual property rights, including trade secrets and know-how relating to the manufacture of urokinase using the tissue culture method, for consideration consisting of $5.0 million in cash and a 6% non-recourse promissory note for $15.0 million that matures on December 31, 2007.
In May 2008, ImaRx Therapeutics announced that it signed a letter of intent in which Microbix Biosystems will acquire urokinase inventory and related assets from ImaRx for $17 million in cash.
Under terms of the agreement, Microbix will acquire the urokinase product and related assets for an upfront payment of $12 million plus an additional $5 million upon achievement of an inventory stability milestone. Upon closing, Microbix will assume full responsibility for urokinase, including sales,...See full deal structure in Biomedtracker
Partners: Zydus Cadila
Pink Sheet May 2007 Supplement
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