Company News
Published Dec 20 2001
*CIMA Labs Inc., Eden Prairie, has signed a development,
license and supply agreement with a pharmaceutical company
for seven new prescription products based upon
CIMA's DuraSolv fast-dissolve drug-delivery system. The
company said it expects the agreement to result in product
development fees of $12 million to $15 million over the next
three years. CIMA will be the exclusive manufacturer and will
receive royalties based on the pharmaceutical company's sales.
*Optical Sensors Inc., Eden Prairie, has received a $500,000
payment for completing design requirements, the first
milestone under its worldwide licensing and distribution
agreement with Nellcor. The agreement provides for a series of
milestone payments for the development of a commercial
CapnoProbe product that Nellcor will distribute.
*Entegris Inc., Chaska, has received an order to sheetline five
5,500-gallon tank trailers for a U.S. chemical manufacturer.
The first portion of the $285,000 order will ship at the end of
December 2001.
*Best Buy Co. Inc., Eden Prairie, said it will work with New
Horizon Kids Quest Inc. to provide on-site child care at its
new corporate campus in Richfield. The 20,000-square-foot
facility will have room for more than 250 children, ranging
from infants to 12-year-olds.
*Visionics Corp., Minnetonka, has reached a distribution
agreement with Nexus. to make Nexus the master distributor
for the FaceIt Argus system.
*RayMedica Inc., Bloomington, said researchers presented
one-year clinical results for minimally invasive endoscopic
implantations of the company's prosthetic disc nucleus device,
used to treat low-back pain. The results show that using an
endoscopic technique to implant the device reduces surgical
time and leads to better patient outcomes than a standard open
procedure.
*Hyperion Partners Corp., Atlanta, has initiated research
coverage on Eagan-based Hypertension Diagnostics Inc.
with a "buy" rating and a price target of $7.50. Hypertension
Diagnostics makes medical devices that non-invasively detect
subtle changes in the elasticity of both large and small arteries.
*ThinkEquity Partners, Minneapolis, has initiated coverage
of Vital Images Inc., Plymouth, with a "strong buy" rating and
a $17 price target.
*Northwest Airlines Corp., Eagan, has opened exclusive
security checkpoint lanes for select customers at six airports,
including Minneapolis-St. Paul International Airport. The
lanes are open to customers of Northwest's frequent flier
program who have achieved Platinum or Gold Elite status, or
those flying world business class or domestic first class.
*Alliant Techsystems, Hopkins, has been awarded a $4
million contract from the Naval Air Systems Command,
China Lake, Calif., to develop the propulsion system and
warhead for the Spike shoulder-fired missile.
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