- Spectral Medical (EDT) announced that it has formed a new joint venture with a Swiss company named Infomed SA
- Infomed is an established medical device manufacturer and original developer of the SAMI and DIMI devices
- The goal of the Joint Venture is to establish SAMI and DIMI as leading dialysis systems in the market
- Spectral develops and commercializes the treatment for septic shock utilizing its endotoxin activity assay (EAA) diagnostic and the toraymyxin therapeutic
- Spectral Medical Inc. (EDT) is up 1.52 per cent, trading at C$0.335 per share at 12:54 pm ET
Spectral Medical (EDT) announced that it has formed a new joint venture with a Swiss company named Infomed SA.
The new joint venture company, i-Dialco Inc., will exclusively focus on advancing the commercialization of the SAMI and DIMI dialysis devices in the North American markets.
Key transaction highlights:
- Infomed to fund all working capital and commercialization costs, as well as planned development, clinical and regulatory activities
- Spectral and Infomed to own 30 per cent and 70 per cent of the joint venture, respectively
- Transaction expects to reduce Spectral’s cash burn by over $3 million annually
- Eliminates over $1 million of future minimum purchase orders as well as license fees payable by Spectral under the original license agreement with Infomed
- i-Dialco to appoint a dedicated management team and board of directors
- Spectral to focus resources and activities on the advancement of PMX and Tigris trial
- Spectral maintains full access to SAMI for potential use with its PMX column through an exclusive, royalty-free license for hemoperfusion treatment
Dialco previously licensed the SAMI and DIMI technology from Infomed for the North American market and subsequently commenced initial commercialization activities. Under the Joint Venture, Spectral will contribute SAMI and DIMI regulatory approvals, as well as transfer its Medical Device Single Audit Program (MDSAP) certification to i-Dialco.
Infomed is an established medical device manufacturer and original developer of the SAMI and DIMI devices. It will contribute all hardware, software and certain other intellectual property to further develop the SAMI and DIMI platforms.
i-Dialco will focus on increasing penetration within the acute and chronic dialysis markets. The goal of the Joint Venture is to establish SAMI and DIMI as leading dialysis systems in the market while capitalizing on Infomed’s technology, expertise and resources.
Spectral develops and commercializes the treatment for septic shock utilizing its endotoxin activity assay (EAA) diagnostic and the toraymyxin therapeutic.
Spectral Medical Inc. (EDT) is up 1.52 per cent, trading at C$0.335 per share at 12:54 pm ET.
