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American Medical Systems Holdings, Inc.
Medical device firm to acquire Ovion
July 6th, 2005
American Medical Systems Holdings, Inc., (AMMD) announced that it has entered into a definitive agreement to acquire Ovion, Inc., of San Mateo, California, a pre-commercialization company focused on the development of a transcervical sterilization technology. The cash transaction is comprised of a $10 million initial payment, an additional $20 million of clinical trial and regulatory milestone payments, and a contingent payment equal to net sales for a 12 month period after commercialization. The Ovion founders will receive a 2% royalty related to their initial technology contribution to the company. Closing of this transaction is subject to...
Source: Biotech Week (2005-07-06)
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