Absorbable biomaterial developer Metabolix said it amended its license agreement with medical device company Tepha Medical Devices, forgoing future royalties and providing 2 additional Metabolix production strains and related IP in exchange for $2 million.
Metabolix’s agreement with Lexington, Mass.-based Tepha includes the licensing of its Metabolix PHA biopolymer technology for use in certain medical applications, and under the amended license, Tepha will retain that license,as well as 2 more for producing it’s devices.
Cambridge, Mass.-based Metabolix said it is “evaluating strategic alternatives” for its biopolymer business and Yield10 crop science program, and that it is engaged in efforts to secure future funding for its strategic review process and operations, according to a press release.
