Somatix Therapy Corp. has obtained options for exclusiveworldwide licenses to two U.S. patents on catheters owned byTrimedyne Inc.
With the catheters, insulin-producing cells can be insertedinto the abdomens of diabetics and tested to see if theyprovide sufficient insulin to eliminate the need for injections.
Somatix (NASDAQ:SOMA) is conducting preliminary animalstudies focused on implanting islet cells into the abdomens ofanimals. However, the Alameda, Calif., company is focused ongene therapy and is considering options for its Type 1 diabetesprogram, such as creating a subsidiary or spinning off theprogram group.
Trimedyne (NASDAQ:TMED) of Irvine, Calif., said Somatix paidit a small cash fee and will pay a small additional fee androyalties if Somatix exercises the options.
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