Yeah.... they certainly wouldn't be able to sell for some time after any IPO.
"In July 1996, CytoTherapeutics, together with certain founding scientists,
established Modex Therapeutiques SA ("Modex"), a Swiss biotherapeutics company,
to pursue extensions of CytoTherapeutics' broad-based, encapsulated-cell
technology for certain applications outside the central nervous system. Modex,
headquartered in Lausanne, Switzerland, was formed to integrate technologies
developed at three universities in Lausanne (the University of Lausanne, the
Centre Hospitalier Universitaire Vaudois, and the Ecole Polytechnique Federale
de Lausanne), at the Albert Einstein College of Medicine of Yeshiva University
in New York City, and at CytoTherapeutics, to develop products to treat non-CNS
diseases such as diabetes, obesity and anemia. In October 1997, the Company
completed a series of transactions that resulted in the establishment of Modex
as an independent company in which CytoTherapeutics has an equity position of
approximately 17%. The pre-existing Cross License Agreement between the Company
and Modex, which concerned encapsulated cell technology, was assigned to
Neurotech, S.A. in December 1999 as part of the divestiture of the Company's ECT." |
