Artivion up on FDA device marketing approval in transfer of PerClot to Baxter

Artivion

23/05/2023 14:17

** Shares of medical device maker Artivion Inc  AORT  up
2.8% at $15.48 premarket 
    ** Co says it has received U.S. FDA approval for premarket
application (PMA) of PerClot 
    ** PerClot is an adjunctive hemostatic device used to
control bleeding in certain open and laparoscopic surgical
procedures     
    ** AORT to receive $18.75 mln milestone payment in cash as
per agreement announced with Baxter International  BAX.N  in
2021, where Artivion sold its ownership of PerClot product line
to Baxter 
    ** Under the terms, Artivion will transfer ownership of PMA
to Baxter and will supply PerClot for a minimum of twenty-one
months, until manufacturing operations are transferred in full  
 
 

 (Reporting by Vaibhav Sadhamta)
 ((Vaibhav.Sadhamta@thomsonreuters.com;))