BG Medicine, Inc. announced an amendment to its license and distribution agreement for Galectin-3. In support of the commercialization of automated testing for galectin-3, BG Medicine and Abbott Laboratories have amended their license and distribution agreement in regard to the product fees paid to BG Medicine by Abbott for galectin-3 tests sold by Abbott to reference laboratories, while retaining the previously negotiated product fee for the other customer segments. In consideration for the amendment, Abbott has agreed to make an initial payment of $500,000 to BG Medicine, Inc. by November 30, 2015 and a second payment of up to $500,000 payable to us, by June 30, 2016, subject to achievement of certain commercial milestones.
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2016 | BG Medicine, Inc. Reports Earnings Results for the Full Year Ended December 31, 2015 | CI |
2016 | BG Medicine Announces Board Changes | CI |
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- BG Medicine, Inc. Amends License and Distribution Agreement for Galectin-3 with Abbott Laboratories