Managed Care Business Week
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Biophan Technologies, Inc.
Nanotechnology company executes agreements with Boston Scientific
August 16th, 2005
Biophan Technologies, Inc., (BIPH), a developer of next-generation biomedical technology, announced that it has reached a definitive agreement with Boston Scientific Corporation (BSX) on an equity investment and technology license. The equity transaction consists of the purchase of Biophan common stock totaling $5 million, priced at a 10% premium over the average of the closing price for the 30 calendar-day period prior to the closing. The technology license includes an upfront payment of $750,000 and annual maintenance fees, in addition to royalties and milestone payments. The balance of the financial details were not disclosed. Funding under both...
Source: Managed Care Business Week (2005-08-16)
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