|
Both of our development programs arose from discoveries by our Chief Scientific Officer and both are classified as a biologic by the FDA. In addition, while the two programs are technologically distinct, they complement and balance each other in several ways, including the size of their respective markets, and opportunities for related-product out-licensing. We hold a portfolio of U.S. and international patents (both issued and pending) and exclusive licenses relating to our activities in the two business units. Ixion began operations in 1995. Currently our 25-person team occupies over 9,962 square feet of lab and office space near the University of Florida, Gainesville. Since 1999, we have received over $4 million in NIH research funds, and in 2000 we received the National Tibbetts award from the SBA in recognition of our research activities. In 1999 we entered into a development and investment arrangement with Q-Med AB, a Swedish company traded on the Stockholm exchange (QMED.ST) that is involved in specialized biotech and healthcare products, under which we have received $7.8 million in cash. In 2004, Q-Med AB licensed the Oxalate Control technology and products. Q-Med currently owns common stock representing approximately 52% of Ixion on a fully-diluted basis, but holds only two seats on our seven member Board. Our relationship with Q-Med has been cordial and highly beneficial. Q-Med has provided scientific and technical assistance and has been an active participant in Board meetings, and is providing advice as to various aspects of our market entry in Europe.
|
Mailing and Phone Info: