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news.MiMedx Group has entered into an exclusive world-wide license agreement with SaluMedica for it's Salubria material for applications as a surgical sheet. The license covers both internal and external applications.
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In exchange for the exclusive, worldwide, perpetual license to manufacture use and sell SaluMedica’s surgical sheet technology, MiMedx has agreed to issue to SaluMedica promptly 400,000 shares of restricted common stock. In addition to the shares to be issued in connection with closing, SaluMedica is eligible to receive up to an aggregate additional 600,000 shares of restricted common stock if certain sales and revenue milestones are achieved not later than June 30, 2013.
Lew Bennett, SpineMedica’s president, said: “Initially we will focus on developing the Salubria surgical sheet technology for a spine surgery vessel guard used for anterior spinal surgeries.”