Boston Scientific takes $90M stake in Millipede with option to acquire [Seeking Alpha]
Boston Scientific Corporation (BSX)
Last boston scientific corporation earnings: 4/29 06:30 am
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Source: Seeking Alpha
Boston Scientific takes $90M stake in Millipede with option to acquireBoston Scientific (NYSE:BSX)completes a $90M investment in privately heldMillipede, the developer of the IRIS Transcatheter Annuloplasty Ring System for the treatment of severe mitral regurgitation.It has the option to acquire the remaining shares of the Santa Rosa, CA-based company at any time prior to the completion of a first-in-human clinical study that meets certain parameters. Upon completion of the study, Millipede has to option to compel BSX to acquire it. Each company's option expires at the end of 2019.BSX will have to spend $325M more to complete the deal plus an additional $125M if a commercial milestone is achieved.Click to subscribe to real-time analytics on BSXNow read:Boston Scientific (BSX) Investor Update (North American Neuromodulation Society) - Slideshow »
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