Hansen Medical expands license agreement with Intuitive Surgical Hansen Medical (HNSN) announced it has signed an updated license agreement with Intuitive Surgical (ISRG). Under the terms of the updated agreement, Intuitive Surgical's existing co-exclusive rights to Hansen Medical's patent portfolio to certain non-vascular approaches have been extended to include patents filed by Hansen Medical subsequent to the original 2005 agreement up to and including the period three years subsequent to this update. Hansen Medical retains the right to use its intellectual property for all clinical applications. This agreement is an update to the co-exclusive license agreement signed by the companies in 2005. Intuitive Surgical will pay Hansen Medical a $20Mup front license fee and will purchase 5,291,005 shares of Hansen Medical common stock for $10M through a private placement transaction. The shares were priced at $1.89, which represents a 5% premium to the trailing 10-day average of Hansen Medical's closing bid price on the Nasdaq Capital Market on October 26.
News For HNSN;ISRG From The Last 14 Days
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Intuitive Surgical Monopolar shipments have resumed, says SunTrust SunTrust's checks confirm that Intuitive Surgical has resumed shipments of a new updated version of its Monopolar Scissors and believes the impact from the urgent notification and the stop shipment that has been in place for three weeks has been minimal. Shares are Buy rated with a $647 rice target.