Ultrasound technology developer Misonix of Farmingdale, NY, has sold the rights to its high-intensity focused ultrasound (HIFU) technology to US HIFU of Charlotte, NC.
Misonix had previously obtained the HIFU technology and other HIFU-related assets from Focus Surgery (FSI), a wholly owned subsidiary of US HIFU. Misonix will receive up to $5.8 million from the transaction and will be paid for its inventory of new SB500 systems and inventory associated with manufacturing the SB500.
The rights include a manufacturing agreement for the SB500 console, a distribution agreement for the sale of the SB500 for prostate cancer in Europe and the Russian Federation, and licenses to develop products using FSI technology for kidney, liver, and breast tissue.
Misonix also will sell all of the SB500 systems currently used in Europe for fee-per-use procedures.
Misonix will retain its rights to HIFU-related intellectual property and development assets recently purchased from ProRhythm of Ronkonkoma, NY. The intellectual property includes the development of new transducers and lenses for the treatment of tissue using HIFU.
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