Bayer/Sontra
This article was originally published in The Gray Sheet
Executive Summary
Continuous, non-invasive glucose monitoring technology development by Sontra gets a boost from $1.5 mil. exclusive, worldwide license pact with glucose monitor company Bayer. The firms anticipate future collaboration agreements for development and commercialization of a monitor incorporating Sontra's SonoPrep ultrasonic skin permeation and biosensor technologies. Baxter will make the initial payment by Jan. 15, 2004, contingent on several factors, including Sontra achieving $2.5 mil. in stockholder equity by Sept. 30 and raising $1.5 mil. from other parties...