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The financing structure contemplated by the term sheet includes Photogen providing to Alliance a cash payment at closing, future payments based on product sales, and bridge financing for Imagent activities prior to the acquisition.
Imagent will be marketed through the Imcor Pharmaceutical division of Photogen.
Taffy Williams, President of IMCOR stated that, "We are pleased to support the ongoing pre-clinical and clinical development of Imagent in such prestigious research institutions.
is a specialty pharmaceutical company developing and marketing a platform of innovative imaging products including its current ultrasound contrast agent, Imagent and PH-50, an investigational iodinated, nanoparticulate formulation under evaluation as a subcutaneous or intravenous agent for both cardiovascular imaging and lymphography.
This agreement is important because it allows IMCOR to consider various alternatives for its Imagent asset, including, seeking worldwide licensing partners for the continued development and marketing of Imagent, engaging in a sale of some or all of this asset, or engaging in a merger or other material transaction.