I am parking this snip from the annual report, and linking it back to the post that got me started on this little subtread...pay me no mind at all...I have not found anything too interesting...yet.
In February 1997, the Company and Cognetix, Inc. entered into a Collaboration and Development Agreement to screen selected peptides
isolated by Cognetix for possible development into therapeutic roducts aimed at a broad range of human disease states using CytoTherapeutics' encapsulated cell-based delivery technology. The Company and Cognetix have also entered into an option agreement giving the Company the right to option up to three of Cognetix's compounds for use in treating eye diseases. As part of the agreement with Cognetix, CytoTherapeutics had purchased $250,000 of Cognetix preferred stock and, subject to certain milestones, was obligated to purchase up to a
total of $1,750,000 of Cognetix's stock over the next year. In July 1997, the Company loaned $250,000 to Cognetix that was repaid with interest in October 1997. In October 1998, the Company sold the $250,000 of preferred stock back to Cognetix for $298,914. The Company and Cognetix are presently discussing proposed revisions to their relationship under the agreements.
There is also a four message subthread which begins here
which mentions Cognetix:
techstocks.com
later in the report we have another section...
In February 1997, the Company and Cognetix, Inc. entered into a Collaboration and Development Agreement to screen selected peptides
isolated by Cognetix for possible development into therapeutic products aimed at a broad range of human disease states using
CytoTherapeutic's cell-based technology. Continuation of the agreement is contingent upon meeting an agreed-upon proof of concept test. The companies will generally share expenses associated with the development of any specific product candidate and any resulting revenues, except as otherwise determined on a product-by-product basis. As part of the agreement with Cognetix, the Company purchased $250,000 of Cognetix preferred stock and, subject to certain milestones, was obligated to purchase as much as $1,500,000 of additional Cognetix stock over the next year. In July 1997, the
Company loaned $250,000 to Cognetix which was repaid with interest in October 1997. In October 1998, the Company sold the $250,000 of
preferred stock back to Cognetix for $298,914. The Company and Cognetix are presently discussing proposed revisions to their relationship under the agreement. |
