Interventional device developer Boston Scientific of Natick, MA, and pharmaceutical company NitroMed of Bedford, MA, have extended the firms’ collaboration, licensing and commercialization agreement for the development of nitric-oxide-coated stents to complement Boston Scientific’s paclitaxel-coated stent.
Under the terms of the agreement, the companies will continue to seek to develop and advance nitric oxide releasing compounds that can be incorporated onto stents to treat a variety of vascular diseases. The contract extension continues the research and development collaboration through 2005 and includes an up-front payment of $3 million to NitroMed. Prior to the extension, NitroMed received a total of $1.5 million in research and development funding and $4.0 million in equity investments from Boston Scientific, NitroMed said.
By AuntMinnie.com staff writersJanuary 8, 2004
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