Animas Corp.

Cygnus inks $10 million asset-purchase agreement

Published in Biotech Law Weekly, January 21st, 2005

Cygnus, Inc., (CYGN) announced that it had entered into an asset-purchase agreement with Animas Corp. (PUMP) pursuant to which Animas will acquire certain assets of Cygnus for a purchase price of $10 million in cash.

The assets to be sold by Cygnus to Animas include substantially all of Cygnus' intellectual property rights, fixed assets, supplier, manufacturing and license agreements, inventory, and tangible personal property.

Assets excluded from the acquisition include Cygnus' cash and cash equivalents, accounts receivable, and its arbitration claim against Ortho-McNeil Pharmaceutical, Inc., a Johnson & Johnson company.

The...

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Source: Biotech Law Weekly (2005-01-21)

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