SangStat/Baxter
This article was originally published in The Gray Sheet
Executive Summary
Gain FDA clearance to market the PRA-STAT test, the first of three tests covered under a May 1993 agreement between the companies. Sangstat will manufacture the product, used in pre- transplant organ testing. In exchange for marketing rights to the SangStat tests, Baxter agreed to pay an initial licensing fee, royalties, and milestone payments, and took a 5% equity stake in the company ("The Gray Sheet" May 17, 1993, p. 15)