Unimed, Besins Iscovesco deal

Besins (Paris) granted UMED exclusive marketing rights in the U.S., Canada and Mexico to two products to treat testosterone deficiency in men. The products are gel formulations that deliver testosterone and dihydrotestosterone through the skin.

UMED issued 145,100 shares and 72,550 warrants to Besins in return for the license. UMED, which has 6.3 million shares outstanding after the issuance, closed at $5.75 on Friday. The warrants are exercisable over 10 years at $8. ...