June 6, 2006 – Acusphere Inc. (NASDAQ: ACUS) announced that it will license various ultrasound-related intellectual property from GE Healthcare, a division of General Electric Company (NYSE:GE). The agreement enables Acusphere to use GE’s ultrasound contrast agent patents in combination with the company’s own Acusphere’s cardiovascular drug candidate in the field of ultrasound contrast agents, as well as any patents that GE acquires in the field within a year. Acusphere is developing AI-700, currently in Phase 3 clinical trials, as an ultrasound contrast agent to support the assessment of myocardial perfusion, or blood flow within the heart muscle.
Acusphere paid GE Healthcare $5 million at signing and will pay GE Healthcare $5 million at the one-year anniversary of the agreement, $5 million upon commercial approval of AI-700, and $5 million at the one year anniversary of such commercial approval.
Acusphere is a pharmaceutical company that develops new drugs and improved formulations of existing drugs using its microparticle technology.