Alliance and Baxter in Oxygent pact

BAX received an exclusive license to manufacture and sell in the U.S., Canada and Europe ALLP's Oxygent perflubron oxygen carrier to enhance the delivery of oxygen to tissues and organs during surgery. BAX also gets rights to co-develop the product for other indications. BAX will buy $20 million of ALLP convertible preferred stock this month and will buy an additional $30 million of convertible redeemable preferred stock over the next 18 months as clinical trials progress. BAX also will pay royalties and a share of profits to ALLP. ...