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ImaRx Therapeutics, Inc.
ImaRx Therapeutics Satisfies Abbott Note Obligation Associated With the Acquisition of Urokinase
May 10th, 2008
ImaRx Therapeutics, Inc. (NASDAQ:IMRX) announced that it has entered into an agreement with Abbott Laboratories pursuant to which it has satisfied its obligations under its $15 million non-recourse promissory note with Abbott issued in connection with its acquisition of urokinase. As a result, full title to the urokinase assets, including the remaining inventory of finished product, all regulatory and clinical documentation, validated cell lines, and intellectual property rights, now resides unencumbered with ImaRx. Urokinase is a thrombolytic drug, formerly marketed under the brand name Abbokinase(R) and recently re-branded as Kinlytic(TM). Urokinase is FDA approved...
Source: Law & Health Weekly (2008-05-10)
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