Healthcare Industry News: Bracco Imaging
News Release - July 3, 2007
Bracco International and ImaRx Therapeutics Enter into Strategic Licensing Agreement
TUCSON, Ariz. and MILAN, Italy--(HSMN NewsFeed)--Bracco Imaging S.p.A., through its affiliate Bracco International B.V. and ImaRx Therapeutics, Inc., today announced that they have entered into a Cross License Agreement with respect to certain patents and patent applications related to the use of microbubbles and ultrasound for targeted diagnostic and therapeutic applications.Under the terms of the agreement, ImaRx granted to Bracco Imaging, worldwide, royalty free, non-exclusive rights under a number of its patents and patent applications to certain microbubble compositions solely for use in targeted diagnostic imaging applications. Corollary to the grant by ImaRx Therapeutics, Bracco Imaging granted ImaRx, worldwide, royalty free, non-exclusive rights under a number of its patents and patent applications to certain microbubble compositions solely for use in therapeutic applications.
"This agreement enables Bracco to expand our ongoing efforts in creating products for targeted diagnostic imaging applications," stated Maurizio Denaro, Group Vice- President Research & Development of Bracco Imaging. "We are pleased to have reached a mutually beneficial arrangement with ImaRx Therapeutics regarding both companies' patent portfolios."
Bradford A. Zakes, President and CEO of ImaRx Therapeutics, Inc. stated, "Our agreement with Bracco provides ImaRx with an expanded patent portfolio to continue pursuit of therapeutic applications of our microbubble technology, while Bracco Imaging can expand its diagnostic imaging efforts into areas covered by ImaRx patents yet outside our strategic development plan."
About Bracco
The Bracco Group is a world leading provider in diagnostic imaging, ethical pharmaceuticals and biomedical products, with net sales of more than 800 million Euro per year. Bracco has operations in 115 countries and about 2,100 employees. Bracco also operates a high-level international research network, with three centers (Ivrea, Geneva, and Princeton). These centers develop products of the latest-generation diagnostic techniques, from X-ray and computed tomography (CT), magnetic resonance imaging (MRI), echo contrast and nuclear medicine.
About ImaRx Therapeutics
ImaRx Therapeutics is a biopharmaceutical company developing and commercializing therapies for vascular disorders. The Company's research and development efforts are focused on therapies for stroke and other vascular disorders using its proprietary microbubble technology. ImaRx Therapeutics' commercialization efforts are currently focused on its product, Abbokinase®, for the treatment of acute massive pulmonary embolism.
Source: ImaRx Therapeutics
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