Alliance Pharmaceutical has signed a term sheet to sell its medical imaging assets to cardiovascular contrast agent developer Photogen Technologies. The deal includes all of Alliance's assets relating to its Imagent ultrasound contrast agent, according to San Diego-based Alliance.
The transaction is subject to completion of due diligence, negotiation of definitive agreements, and other contingencies, including Photogen obtaining financing for the acquisition, Alliance said. The term sheet’s financing structure includes a cash payment to Alliance when the deal closes, as well as future payments based on product sales. Photogen of New Hope, PA, would also provide bridge financing for Imagent activities prior to the acquisition, according to Alliance.
By AuntMinnie.com staff writersNovember 25, 2002
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