MRI device developer Biophan Technologies has signed a letter of intent to acquire AMRIS, a German developer of MRI-compatible devices and technology.
Under the terms of the deal, West Henrietta, NY-based Biophan will acquire the exclusive license to 15 issued or pending AMRIS patents covering the imaging of devices such as stents and other vascular implants. The companies expect to sign a definitive agreement and complete due diligence on or before January 31.
After the deal is completed, Biophan will rename the Castrop-Rauxel, Germany-based firm as Biophan Europe. AMRIS president Michael Friebe, Ph.D., will retain the same title, and will join Biophan's board of directors.
AMRIS scientific director and chief technology officer Dr. Andreas Melzer will also join Biophan's scientific advisory board, and will lead many of Biophan's device developments, Biophan said.
By AuntMinnie.com staff writers
January 7, 2005
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