In Brief: Cygnus' Glucowatch
This article was originally published in The Tan Sheet
Executive Summary
Cygnus' Glucowatch: Rights sold to Becton Dickinson for $20 mil. under an agreement announced Feb. 14. BD's $20 mil. commitment for the non-invasive blood glucose meter consists of an upfront equity investment and milestone payments based on further progress toward bringing the device to market. In return, BD is gaining exclusive rights to the development-stage GlucoWatch except for Japan and Korea. Cygnus retains manufacturing rights to the Glucowatch, responsibility for completing development of the device and securing FDA approval, and will provide customer support to BD in marketing the wrist watch-type device. Cygnus reportedly will receive royalties from BD of 50% or more on Glucowatch profits...
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