Hansen Medical Inc. (NSDQ:HNSN) scored multiple agreements with Philips Healthcare that could net the company up to $107 million.
The Royal Philips Electronics (NYSE:PHG) division plans to develop and commercialize the non-robotic applications of Hansen Medical’s fiber optic shape sensing and localization technology, also know as FOSSL.
The deals give Philips exclusive rights the FOSSL-based devices in the non-robotic vascular, endoluminal and orthopedic fields," according to Hansen Medical.
Hansen Medical also has in development an investigational flexible catheter robotic system for vascular indications, and the new agreements allow for the company to increase fees for Philips based on the the device’s sales. Hansen plans to commercialize the technology in the United States and Europe this year.
The patent and technology licensing and purchasing agreements between the two companies include a $29 million upfront payment for Hansen with possible future payments totaling $78 million based on the successful commercialization of the technology.
The news sent Hansen stock skywards. HNSN shares closed at $2.20, up from $1.58, or just over 39 percent
Here’s a roundup of companies announcing new distribution deals.
- Toshiba secures contract with Novation for CT line
Toshiba’s (TYO:6502) America Medical Systems Inc. business signed an agreement with Novation to offer Toshiba CT systems to the members of VHA, University HealthSystem Consortium (UHC) and Provista
- KCI licenses Wright Medical’s GraftJacket wound care brand
Kinetic Concepts Inc. (NYSE:KCI) announced an agreement to license Wright Medical Group Inc.’s (NSDQ:WMGI) GraftJacket brand for use in marketing the LifeCell acellular human dermal-based regenerative tissue matrix for wound applications such as diabetic foot ulcers and venous stasis ulcers. KCI’s active healing solutions unit will sell the LifeCell regenerative tissue matrix under the GraftJacket brand name.
- Tyco Flow Control hires Cardiac Science to deploy AEDs
Cardiac Science Corp. won a contract to deploy Powerheart AEDs in all Tyco Flow Control facilities globally. Tyco Flow Control is a $3.4 billion division of Tyco International, with 15,000 employees working in 350 facilities throughout the globe. The first phase of the rollout, planned for the first quarter of 2011, will equip Tyco’s Australian, Pacific, and North and South American facilities.
- Theragenics Corp. cuts off TheraSeed supply to Core Oncology Inc.
Theragenics Corporation (NYSE:TGX) suspended shipments of its TheraSeed palladium-103 brachytherapy seeds to Core Oncology Inc., accusing the Santa Barbara, Calif.-based distributor of failing to pay according to the terms of the deal. The companies inked the short-lived deal Jan. 12.
- Sonoma Orthopedic Products inks license and distribution deal in Japan
Sonoma Orthopedic Products entered into a licensing and distribution agreement with Ai-Medic, a subsidiary of Olympus Business Creation Corp. Ai-Medic is a leading supplier of orthopedic products in the Japanese market, especially in the area of clavicle fracture fixation. The agreement includes significant license fee and revenue commitments.