Medtronic enters OsteoGenix bone pact |
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Wed, 21 Mar 2007 15:08
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MEMPHIS, Tenn. (AP) - Medtronic Inc., the world's largest maker of medical devices, said Wednesday its spine business entered a development agreement with privately held OsteoGenix Inc.Financial details of the agreement were not disclosed.Under the agreement, OsteoGenix will complete work on preclinical trials for its proprietary bone anabolic agent, which is intended to grow new bone, and continue development into clinical trials.Medtronic said it will receive another source of bone growth therapies under the agreement.Shares of Medtronic rose Wednesday 22 cents to $49.57 on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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