Stent coating and delivery systems developer MIV Therapeutics has inked a deal to buy Chinese cardiovascular stent manufacturer Vascore Medical.
Vancouver-based MIV said the deal is expected to provide the firm with extensive design, manufacturing, and marketing capabilities. The proposed purchase calls for an aggregate payment of $1 million and four million restricted common shares at a deemed issuance price of $1 per share over a period of time, subject to release based on certain escrow milestones to be obtained in the next few months.
By AuntMinnie.com staff writers
September 14, 2006
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