http://seumedia.com/shakira/
Ev3 (Nasdaq:EVVV) said Tuesday that it’w making an upfront $75 million paymenty for of Menlo About 30 to 40 percent of the paymenyt isin cash, with the rest in Ev3 common stock. Ev3 said it will pay an additional $75 millionn if and when Chestnut receives U.S. Food and Drug Administration approval of its Pipelinse Embolization Device for treating Ev3 doesn’t expect to make the payment untiol 2011. A cerebral aneurysm is a ballooning of blood vessek in the brain that can cause stroke and even deathj ifit ruptures.
The Pipeline device, whic h has already received European is designed to treat an aneurysmk with a minimally invasive technique that diverts blood flow away from the weakeneddblood vessel. Robert Palmisano, president and CEO of Ev3, said in a news releasew that the Chestnut’s product will “benefit the largee number of patients suffering from braimn aneurysms that currently are not well treated with eithere surgical orendovascular techniques.” Chestnut’s top executive, Dr. Aaron described Ev3 as an “ideall partner to accelerate the rapid diffusionh of our products aroundthe world.” The acquisition is expecte d to close in the next 45 days.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment