Zylox-Tonbridge Medical Technology (HKG: 2190), a China-based developer of nerve and peripheral vascular interventional devices, has announced a series of licensing and investment agreements with U.S. device manufacturer Avinger. The partnership aims to expand Zylox-Tonbridge’s portfolio of peripheral vascular intervention devices.
According to the agreement, Zylox-Tonbridge will secure exclusive rights for localization, manufacturing, and commercialization of Avinger’s optical coherence tomography (OCT) control panel, OCT-guided peripheral vascular plaque rotary cutting instrument, and peripheral vascular chronic total occlusion (CTO) opening instrument in Greater China, which includes mainland China, Hong Kong, Macau, and Taiwan. Upon receiving the necessary regulatory approvals and/or filings, Zylox-Tonbridge will also become an authorized original equipment manufacturer (OEM) for licensed products to be sold by Avinger or its agents outside of Greater China.
Additionally, Zylox-Tonbridge will collaborate with Avinger to distribute several of its self-developed peripheral vascular intervention products in the U.S. and Germany. As part of the deal, Zylox-Tonbridge will invest USD 15 million in Avinger through the subscription of newly issued common and preferred shares, to be carried out in two tranches of USD 7.5 million each, contingent upon the achievement of certain milestones and other delivery conditions.- Flcube.com
