Neoprobe, Devicor sign gamma detection device asset purchase agreement
April 08, 2016
"The agreement allows Neoprobe to accelerate years of future cash flow to today while still realizing potential value from additional growth of the device business in the future," said Brent Larson, Neoprobe's Senior Vice President and CFO. "The transaction reduces financial risks and enables us to more aggressively pursue investment in our drug pipeline programs that we believe can generate incremental shareholder value. We believe Devicor is well positioned to continue the success our GDS systems have achieved to date and to realize their full potential going forward."
"Neoprobe has been an excellent partner and we look forward to the next phase of our relationship as the dedicated GDS employees join our growing company and we continue to invest in expanding the product line," said Tom Daulton, Devicor's CEO. "This is a great example of our add-on acquisition strategy and partnership with GTCR following the platform Mammotome transaction," added Jonathan Salkin, Devicor's Executive Vice President.
Source: Neoprobe Corporation