Business Update

Cytogen enters into QUADRAMET royalty buyout agreement with Berlex

Published in Cancer Weekly, June 5th, 2006

Cytogen Corporation (CYTO) announced that it has entered into a royalty buyout agreement with Berlex, Inc. for QUADRAMET (samarium Sm-153 lexidronam injection).

Under the terms of the agreement, Cytogen will no longer pay Berlex a royalty on QUADRAMET sales in exchange for a one-time cash payment of $6 million and the issuance of 623,441 shares of Cytogen common stock at a price of $3.21 per share to Berlex. The transaction is subject to certain closing conditions and is expected to close within 90 days.

As additional consideration, Cytogen will also pay Berlex one-time, sales-based milestone payments of $3.34 million and $5.01 million the first time...

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Source: Cancer Weekly (2006-06-05)

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