HNSN, Hansen Medical, Inc.
HNSN reported that it has signed an updated license agreement with Intuitive Surgical.
Under the terms of the updated agreement, Intuitive Surgical’s existing co-exclusive rights to HNSN‘s patent portfolio to certain non-vascular approaches have been extended to include patents filed by HNSN subsequent to the original 2005 agreement up to and including the period three years subsequent to this update.
HNSN retains the right to use its intellectual property for all clinical applications. This agreement is an update to the co-exclusive license agreement signed by the companies in 2005.
Intuitive Surgical will pay HNSN a $20 million up front license fee and will purchase 5,291,005 shares of HNSNcommon stock for $10 million through a private placement transaction. The shares were priced at $1.89.
HNSN is the global leader in intravascular robotics, developing products and technology designed to enable the accurate positioning, manipulation and control of catheters and catheter-based technologies.
More about HNSN at www.hansenmedical.com.
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