WATERTOWN, Mass., July 3 /PRNewswire/ -- OXiGENE, Inc. (Nasdaq: OXGN, SSE: OXGN), the world leader in the field of vascular targeting, today announced that it has completed the sale of its Nicoplex and Thiol test products to CampaMed LLC, a privately held company engaged in the development of proprietary nutraceutical products. Nicoplex is a novel combination of antioxidant nutrients intended to be developed for the OTC market as a novel antioxidant therapy. The Thiol test is a diagnostic test used to estimate oxidative stress-regulated DNA repair as an indicator of risk to illnesses associated with aging and cancer.
Under the terms of the agreement, CampaMed will provide up to $3.3 million in future installment payments based upon sales of the products. In addition, OXiGENE was granted a 10% equity position in CampaMed.
``OXiGENE's primary strategic focus is to develop products for application as direct cancer treatment agents, particularly vascular targeting agents,'' stated Bjorn Nordenvall, Chairman and Chief Executive Officer of Oxigene. ``The sale of this technology is a logical progression in achieving our mission to be the world leader in vascular targeting technologies.''
``The acquisition of the thiol test and the novel antioxidant formulation, Nicoplex, from Oxigene has greatly strengthened CampaMed's nutritional product portfolio'' said Gerald Morris, Managing Director of CampaMed. ``These products, together with the recent formation of a new company to market them called Garra Sciences, certainly focus CampaMed's intention to provide a broad spectrum of high quality nutritional products for mass markets.''... |
