Atrix, Vipont Royalty Income Fund Ltd. deal

ATRX (Fort Collins, Colo.) proposed to acquire all of the limited partnership interests in VRIF, a limited partnership formed to provide funding for ATRX's development of periodontal products.

VRIF, which raised $10.3 million in 1987, initially funded development of a product containing sanguinarine to treat periodontal disease. When that product failed, VRIF began development of a product containing doxycycline for the same indication. By 1992, the partnership funds were depleted and ATRX began funding development expenses in full. ...