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news.NuVasive has reported the buy-out of royalty obligations on its SpheRx pedicle screw and related technology products and the acquisition of new pedicle screw intellectual property, in two separate transactions.
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Under the first transaction, NuVasive has satisfied all remaining royalty obligations for its SpheRx platform of products for a single cash payment of $3.25 million. The transaction provides NuVasive with complete ownership of all features, designs and patents related to ball-in-rod technology for use in current and future products.
Under the second transaction, NuVasive has acquired an exclusive license to intellectual property for the development of its next generation pedicle screw system in exchange for $3 million in cash and certain royalty obligations on sales of the developed product. The company plans to utilize this technology to develop an additional pedicle screw system in 2009, which will provide greater access to multi-level constructs and trauma procedures.