Biomatrix deal

Syntex took a $2 million equity position, buying 355,000 shares at $5.63 per share. BIOX has 9.3 million shares outstanding after the deal. The agreement includes an additional $7.3 million in up-front fees and milestone payments.

Syntex received exclusive marketing rights for Synvisc in Germany, Spain, Belgium, the Netherlands, Luxembourg, Switzerland and South Africa for up to 15 years, assuming achievement of certain minimum sales. BIOX will manufacture and supply Synvisc for an increasing percentage of net Synvisc sales over time. ...