In Brief: Tri-Point Medical
This article was originally published in The Gray Sheet
Executive Summary
Tri-Point Medical: Inks supply and distribution agreement under which Johnson & Johnson's Ethicon subsidiary gains worldwide marketing rights to its Traumaseal topical, nonabsorbable wound-closure adhesive product. The device began U.S. clinical trials in January ("The Gray Sheet" Jan. 15, In Brief) and the company anticipates completion of the studies this summer. The Raleigh, North Carolina-based firm hopes to submit a premarket approval application by year end. The deal includes "an up-front payment" and "cash advances on future purchases and milestone payments" upon FDA approval, the firm states. Terms were not disclosed...