- Acutus Medical ( NASDAQ: AFIB ) said it will get a $17M milestone payment from Medtronic ( NYSE: MDT ) as a submission for CE Mark in the EU was undertaken for its left-heart access portfolio.
- Acutus noted that on June 30, it completed the first closing of a previously announced sale of its left-heart access portfolio to Medtronic, which includes the AcQCross septal crossing devices, the AcQGuide MINI sheath and integrated crossing device, the AcQGuide FLEX Steerable Introducer with integrated crossing device, and the AcQGuide VUE steerable sheath.
- The company said that on on Oct. 31 it completed the first major milestone in this transaction with OEM qualification, and now the second major milestone of EU Medical Device Regulations (MDR) filing.
- Starting Jan. 28, 2023, Acutus will be eligible to receive four years of revenue-based earnouts, according to the company.
- AFIB +8.22% to $0.92 premarket Dec. 21
For further details see:
Acutus stock rises as Medtronic to pay $17M milestone under heart device pact