BioCentury
ARTICLE | Strategy

CellPro looks past its quickie divorce

May 8, 1995 7:00 AM UTC

CellPro Inc. and Corange International Ltd. wasted no time in settling their differences over the size of the equity payment Corange owed CPRO, thus allowing them to exit an alliance that neither any longer wanted.

Corange owed a $60 million equity payment in April, based on the 1993 agreement to develop CPRO's Ceprate SC stem cell separation device for therapeutic and diagnostic applications. The agreement began to crumble last summer when its architect, Max Link, departed from Corange. In March, CPRO made official what had been widely suspected for some time - that Corange was looking to exit the relationship (see BioCentury April 3)...