Ultrasound contrast developer Acusphere has agreed to license on a nonexclusive basis various ultrasound-related intellectual property from GE Healthcare.
The agreement provides Acusphere with use of GE Healthcare's ultrasound contrast patents in combination with Acusphere's AI-700 contrast agent, as well as any patents that GE Healthcare acquires within 12 months of the agreement, according to Acusphere of Watertown, MA.
Acusphere will pay GE Healthcare of Chalfont St. Giles, U.K., $5 million at signing, an additional $5 million a year later, $5 million upon commercial approval of AI-700, and $5 million at the one-year anniversary of commercial approval. The agreement extends of the last of the patents under the agreement until expiration, Acusphere said.
By AuntMinnie.com staff writers
June 6, 2006
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