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Biotech / Medical : CYPB - Cypress BioScience -- Ignore unavailable to you. Want to Upgrade?

To: muddphudd who wrote (495)	3/8/1999 9:51:00 AM
From: Joel	Read Replies (1) \| Respond to of 586

Does anyone still use this thread? Great news this morning! Headlines Next Story Cypress Bioscience Announces Partnership With Fresenius AG; Definitive Licensing and Distribution Agreement for the Prosorba Column Includes Equity Investment and Profit Sharing Business Wire - March 08, 1999 09:01 SAN DIEGO--(BW HealthWire)--March 8, 1999--Cypress Bioscience Inc. (Nasdaq:CYPB) announced today that it has signed definitive agreements covering its partnership with Fresenius AG of Bad Homburg, Germany and its United States (U.S.) subsidiary Fresenius Hemotechnology Inc. (FHI) of Concord, Calif. The agreement provides Fresenius with an exclusive license to distribute the Prosorba(R) column, a treatment for rheumatoid arthritis (RA), in the U.S., Europe and Latin America and, subject to certain conditions, Japan and select Asian countries. The partnership is intended to accelerate commercialization of the Prosorba column into the rheumatology market, and to broaden the availability of Prosorba column treatments. Financial terms include an upfront equity investment by Fresenius, license payments of up to $54 million based on sales, and a line of credit extended to Cypress to support the product launch and manufacturing scale-up.