Macropore Inc. IR-Pages
MacroPore Biosurgery Receives $5 Million from Medtronic
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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MacroPore Biosurgery Receives $5 Million from Medtronic Related to the CMF/N
Sale
San Diego, CA, February 12, 2004 – MacroPore Biosurgery, Inc. (Frankfurt Stock
Exchange: XMP) (MacroPore) announced today that it has received the $5 million
milestone payment for completing the evaluation of the new Faster Resorbing
Polymer (FRP) bioresorbable implant system. The successful 20-patient, 12-month
study relates to the sale of the Craniomaxillofacial/Neurosurgical (CMF/N)
business unit to Medtronic. The $5 million will be recognized in the first
quarter of 2004 as a one-time gain on the sale of assets.
Contact:
Tom Baker Media/U.S.Investors
Tel. +1-858-458-0900
tbaker@macropore.com
Stefanie Bacher
European Investors
Tel. +1-858-362-0365
sbacher@macropore.com
end of ad-hoc-announcement (c)DGAP 12.02.2004
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
MacroPore is currently working with Medtronic to complete the transfer of
manufacturing Know-How related to the CMF/N product line. MacroPore expects
this to result in an additional payment of $2 million. Receipt of the milestone
payment will mark the close of the transaction and allow MacroPore to recognize
approximately $10 million on the sale of CMF/N assets, of which $8.24 million is
currently held on the balance sheet as deferred gain.
The FRP system products are cleared by the FDA for craniofacial and
neurosurgical applications. They were developed by MacroPore as an extension of
its CMF product line and they consist of bioresorbable protective sheets,
plates, tacks, screws and associated instrumentation designed for bone repair
applications where rapid healing and bone growth, such as in children, occurs.
About MacroPore Biosurgery, Inc.
MacroPore Biosurgery (Frankfurt: XMP) (MacroPore) is a global leader in the
discovery and development of regenerative medicine technologies and therapies.
We are committed to improving the practice of medicine by creating innovative
products that address two important segments of medicine: spine and orthopedic
bone repair and cardiovascular tissue repair. Our surgical implants, which
represent one of the latest advancements in spine and orthopedic medicine, are
manufactured by MacroPore and distributed exclusively through Medtronic Sofamor
Danek. We are conducting research and development for an autologous, homologous-
use, cell-based technology for the regeneration and repair of damaged tissues
throughout the body. We are currently targeting the repair of cardiovascular
tissues that are damaged after a myocardial infarction. For further information
please visit our web site http://www.macropore.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release may include forward-looking statements regarding events and
trends which may affect MacroPore Biosurgery’s future operating results and
financial position. Such statements are subject to risks and uncertainties that
could cause MacroPore Biosurgery’s actual results and financial position to
differ materially. These risks and uncertainties are described (under the
heading “Risk Factors”) in our 2002 Annual Report which is available on our web
site. MacroPore Biosurgery assumes no responsibility to publicly release the
results of any revision of forward-looking statements to reflect events, trends
or circumstances after the date they are made.
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WKN: 940682; ISIN: USU553961025; Index: NEMAX 50
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover und Stuttgart
120801 Feb 04
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