Thursday, August 1, 2013
Cytori Divests Product Line
San Diego-based biopharmaceuticals firm Cytori Therapeutics said yesterday that it is in a deal to divest pieces of the company, with Bimini Technologies and two affiliates, Puregraft Technologies and Kerastem Technologies. Cytori said it has sold its manufacturing and commercialization rights for its Puregraft product line to Bimini, in a deal worth $5M upfront and up to $10M in additional milestone payments. Bimini has also acquired global, exclusive rights to commercialize Cytori's Celution Systems for Alopecia, which will provide it with perpetual royalty on sales.