Navigation Links
ImaRx Therapeutics Satisfies Abbott Note Obligation Associated With the Acquisition of Urokinase
Date:4/23/2008

TUCSON, Ariz., April 23 /PRNewswire-FirstCall/ -- ImaRx Therapeutics, Inc. (Nasdaq: IMRX) today announced that it has entered into an agreement with Abbott Laboratories pursuant to which it has satisfied its obligations under its $15 million non-recourse promissory note with Abbott issued in connection with its acquisition of urokinase. As a result, full title to the urokinase assets, including the remaining inventory of finished product, all regulatory and clinical documentation, validated cell lines, and intellectual property rights, now resides unencumbered with ImaRx.

Urokinase is a thrombolytic drug, formerly marketed under the brand name Abbokinase(R) and recently re-branded as Kinlytic(TM). Urokinase is FDA approved and marketed for the treatment of acute massive pulmonary embolism, or blood clots in the lungs.

As of March 31, 2008, the remaining balance due under the note net of funds that were held in escrow totaled approximately $10.8 million. Pursuant to the terms of the agreement, all of ImaRx's obligations under the $15 million non-recourse promissory note were fully satisfied in exchange for the payment of $5,177,609 in cash to Abbott and the satisfaction of certain payment obligations relating to the storage of certain cell banks and recombinant samples at a contract research organization.

Bradford A. Zakes, President and CEO of ImaRx Therapeutics, stated, "We are pleased to have reached agreement with Abbott Laboratories on the satisfaction of this debt obligation. This now ensures that we have complete ownership of the asset, which will enable us to continue to commercialize this product and to provide patients and their doctors access to this important therapeutic."

About ImaRx Therapeutics '/>"/>

SOURCE ImaRx Therapeutics, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3

Related biology technology :

1. ImaRx Therapeutics Receives Notification from NASDAQ Regarding Non-Compliance with NASDAQs Minimum Bid Price Requirement
2. ImaRx Therapeutics Reports Business Update and Financial Results for Fourth Quarter and Full Year 2007
3. ImaRx Reschedules Release of Corporate Updates and Fourth Quarter and Full Year 2007 Financial Results
4. ImaRx to Report Corporate Updates and 4Q07 Financial Results
5. ImaRx Therapeutics Receives Urokinase Lot Release Approval With Extended Expiration Dating
6. Sirion Therapeutics Preclinical Studies: Two New Potential Advances in Treatment of Retinal Diseases to be Presented at ARVO
7. CardioVascular BioTherapeutics, Inc. Announces Update on Timing of Form 10-K Filing
8. Cell Therapeutics, Inc. Announces Receipt of Letter From the NASDAQ Stock Market Regarding Non-Compliance With the Minimum Bid Price Requirement
9. BioSpace and IBC Life Sciences Announce Career Fair Alliance For Drug Discovery & Development of Innovative Therapeutics World Congress
10. Lorus Therapeutics presents new findings for the anticancer drugs LOR-253 and LOR-2040
11. CV Therapeutics Announces $185 Million Transaction with TPG-Axon Capital for Half of Royalty for Lexiscan(TM) (regadenoson) Injection
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/10/2014)... 10, 2014 Product and process ... low abundance and are often “lost in the ... , Join presenters Dr. Rowel Tobias, Senior Scientist, ... Anders, Head of Quality at Nanotherapeutics, Inc., to ... can speed detection and quantitation while achieving the ...
(Date:7/10/2014)... Poway, CA (PRWEB) July 10, 2014 Robert ... Regenerative Veterinary Medicine company, is proud to announce the relaunch ... Pets, launching with a new series called “ What are ... to give an honest and straightforward foundation in the basics ... an educated decision on the right type of treatment when ...
(Date:7/10/2014)... 2014 On July 9 Prime ... presented Russia,s first national "Industry" ... Company is developing a unique project called MabNext ... a number of innovative drugs based on monoclonal antibodies ... took place at the International Exhibition "Innoprom 2014" in ...
(Date:7/10/2014)... According to the International Atomic Energy Agency (IAEA) ... terrorists acquiring sufficient quantities of plutonium or highly ... explosive device. The IAEA also notes that most ... quantities, which can be challenging to detect with ... study appearing this week in the Journal ...
Breaking Biology Technology:Novel Ms Techniques Speed Detection of Biopharmaceutical Product and Process Impurities, New Webinar Hosted by Xtalks 2Robert Harman, DVM Talks About What Stem Cells are in His Latest Blog Series for Vet-Stem, Inc. 2Robert Harman, DVM Talks About What Stem Cells are in His Latest Blog Series for Vet-Stem, Inc. 3Dmitry Medvedev Presented BIOCAD the First National "Industry" Award 2Sensitive detection method may help impede illicit nuclear trafficking 2
... Technology students at Chippewa Valley Technical College in Eau ... and micro-level surface analysis to firms or organizations ... Hans Mikelson says three students will comprise each of ... Mikelson believes that firms considering the purchase of ...
... Facilities, Inc. , a global leader in the design, ... and security systems, announced today that it has been ... the City of Madison, Wisconsin's proposed municipal Wi-Fi network. ... coordination with Madison Gas & Electric, WFI will deploy ...
... Wis. RedPrairie ... technology solutions provider that enables ... that 55 percent of the ... DLx Labor Workforce Performance Management ...
Cached Biology Technology:
(Date:7/11/2014)... The Mills Canyon fire started near the City of ... of local resources, the fire quickly grew to over ... cause of the fire is under investigation by the ... is working with existing local resources in developing fire ... Forest Service (USFS), Washington State Department of Natural Resources, ...
(Date:7/11/2014)... When researchers at the National Institute of Standards ... do their work more effectively, they often prove ... Such was the case recently for M. Lorna ... in the growing specialization of glycomics. Glycomics is ... called glycans that are attached to proteins and ...
(Date:7/11/2014)... University, Sweden, have explored two different ways that ... leading to the formation of oxygen molecules in ... the scientific journal Nature Communications . , ... synthetic catalysts for water oxidation, which are key ... direct storage of solar energy in fuels like ...
Breaking Biology News(10 mins):Molecular snapshots of oxygen formation in photosynthesis 2
... of green tea could prove the perfect elixir for ... bacterial infection. In a new laboratory study, Haichao Wang, ... his colleagues have been studying the therapeutic powers of ... immune response that kills 225,000 Americans every year. They ...
... , Detergents are a pollutant agent which can be found ... of chemical components to the soils. Two primary ways are the ... of fertilizers based out of biological mixtures. A study done by ... Microbiology at the University of Granada, directed by Dr. ...
... (November 8, 2007)- There is a new reason for the ... Vitamin D, a key nutrient in milk, could have aging ... published in the American Journal of Clinical Nutrition. In ... ages 19-79, British and American researchers found that higher vitamin ...
Cached Biology News:In the laboratory, green tea proves a powerful medicine against severe sepsis 2Chemical compound present in detergents produce bacteria alterations in agricultural soils 2Could vitamin D, a key milk nutrient, affect how you age? 2
... Electron's CryoMed Freezers for IVF are designed ... precise control, ease of setup and operation, ... operation status are continuously displayed on the ... cycle data are printed by way of ...
6 x Blend of rTth DNA Polymerase and Tli to provide optimized amounts of both 5-3 and 3-5 proofreading activity...
... is a recombinant Moloney murine leukemia ... Transcriptase is similar to MuLV reverse ... usage. MuLV reverse transcriptase is a ... single-stranded RNA as a template in ...
... Collection of Cell Cultures (ECACC) in conjunction ... the West of England, Bristol, UK, have ... control of HER2, oestrogen and progresterone receptor ... sections of formalin fixed, breast cancer cell ...
Biology Products: