ART signs structured buyout agreement with Terumo, validating ART’s scaffold

PARIS, March 27, 2014 – Privately held Arterial Remodeling Technologies (‘ART’) announced today that it has signed a structured buyout agreement with Terumo Corporation. Under the agreement, ART and Terumo Corporation will collaborate in the development of a drug eluting bioresorbable scaffold or stent, intended for use in the treatment of coronary artery disease. ART Security Holders will retain full ownership of the ART bioresorbable scaffold technology for all other indications. Terumo Corporation will make staged R&D investments in ART and ART has granted an exclusive option to Terumo Corporation to purchase ART at any time prior to the initiation of clinical trials.

 

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