Biocompatibles In Deal With Boston Scientific
UK medical devices company Biocompatibles International has announced anR&D agreement with US firm Boston Scientific Corp to develop its main product, a coated surgical stent, in the areas of vascular and arterial venous grafts.
The company also says it has signed distribution deals with firms in France, Spain, Italy, Denmark, Norway, Argentina, Slovenia and the Czech Republic to market its stents. The news will be welcome at Biocompatibles, which acknowledges that commercialization of its platform technology has been slower than expected due to difficulties finding partners after Cordis, the Johnson & Johnson subsidiary, pulled out of a licensing deal last year (Marketletter September 15, 1997).
In order to provide the additional funds necessary to continue the company's commercialization strategy, Biocompatibles has announced a placing and open offer to raise L29 million ($47.3 million).
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