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Biotech / Medical : Biotransplant(BTRN)

BTRN 35.59

-0.9%

Oct 30 4:00 PM EDT

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To: trevor john wilkinson who started this subject	12/5/2002 4:20:42 AM
From: nigel bates	Read Replies (1) of 1475

CHARLESTOWN, Mass.--(BUSINESS WIRE)--Dec. 4, 2002--BioTransplant Incorporated (Nasdaq: BTRN - News) today announced that it has agreed with Gambro BCT to terminate the companies' distribution agreement for the Eligix(TM) HDM Cell Separation Systems. The termination was mutually agreed upon by both parties to settle all claims and disputes without any recognition or admission of contract violations or breach by either company. As part of the termination agreement, BioTransplant will pay Gambro an undisclosed amount to repurchase unused inventory and Gambro will agree to provide customer support through January 15, 2003. BioTransplant now plans to seek additional partners for the products. "We are pleased to have quickly resolved our dispute with Gambro. We plan to immediately initiate discussions with potential partners to create new opportunities for the Eligix HDM Cell Separation Systems while also pursuing our primary strategic objective - namely, preserving and maximizing the value of MEDI-507 for our shareholders," stated Donald B. Hawthorne, Chief Executive Officer of BioTransplant...

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