Edwards Lifesciences (NYSE:EW) and DexCom (NSDQ:DXCM) last week agreed to spike their deal to develop continuous glucose monitoring technology for use in hospitals.
The deal, inked in November 2008, originally included an exclusive license for Edwards for all of DexCom’s applicable technology for $13 million up front and another $24 million over 3 years in product development costs and regulatory milestones. The deal also gave DexCom a 10% profit share or a 6% royalty on any commercial sales.
Today DexCom said in a regulatory filing that the companies agreed to halt “any activities related to further development obligations or milestone payments,” with Irvine, Calif.-based Edwards receiving a fully paid, royalty-free license to use some of DexCom’s in-hospital blood-based glucose monitoring tech.
San Diego-based DexCom said it can still sell its interstitial CGM tech “in all settings, including within the hospital market.”