Boston Scientific, NitroMed extend collaboration

Interventional device developer Boston Scientific of Natick, MA, and pharmaceutical company NitroMed of Bedford, MA, have extended the firms’ collaboration, licensing and commercialization agreement for the development of nitric-oxide-coated stents to complement Boston Scientific’s paclitaxel-coated stent.

Under the terms of the agreement, the companies will continue to seek to develop and advance nitric oxide releasing compounds that can be incorporated onto stents to treat a variety of vascular diseases. The contract extension continues the research and development collaboration through 2005 and includes an up-front payment of $3 million to NitroMed. Prior to the extension, NitroMed received a total of $1.5 million in research and development funding and $4.0 million in equity investments from Boston Scientific, NitroMed said.

By AuntMinnie.com staff writers
January 8, 2004

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