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news.Celsion has closed on the purchase of 659,738 shares of Celsion stock from Boston Scientific for $4.00 per share, for an aggregate price of $2,638,592. With the sale, Boston Scientific has informed the company that it is no longer a holder of the company's common stock.
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Boston Scientific had been a strategic business partner with Celsion, as the US marketer of Prolieve Thermodilatation which is used for the treatment of benign prostatic hyperplasia. In June 2007, Boston Scientific purchased the Prolieve assets from Celsion for $60 million.
Michael Tardugno, Celsion’s president & CEO, said: “The purchase of our shares from Boston Scientific represented an opportunity to obtain value through a strategic use of our company’s capital. The management and the board of directors believe this transaction is in the best interest of shareholders.”