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Description
Cardica, Inc. (Redwood City, CA) and Cook Medical (Bloomington, IN) entered into an agreement to develop and commercialize a specialized device designed to close the patent foramen ovale (PFO), a relatively common heart defect present in approximately 15 to 20 percent of the general population. Under the terms of the agreement, Cardica will receive $900,000 in upfront fees and is eligible to receive approximately $2.7 million in additional milestone payments during the development effort over the next 12 to 18 months as well as royalties on future worldwide sales of the device.
"We are pleased to once again partner with Cardica, combining Cardica's leading-edge... |
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