CryoCor(CRYO Quote) celebrated another gain, while it was overall a flat-to-down biotech day.
After a rally yesterday tied to a pre-market approval, CryoCor took to gaining again on Friday after announcing a deal with Boston Scientific(BSX Quote). The companies will co-develop a console to deliver cryo energy, which uses extreme cold, to Boston Scientific's cryo balloon catheter to treat atrial fibrillation. CryoCor will develop and potentially manufacture the consoles, which will be used with Boston Scientific's internally developed catheter balloons, according to the companies.
Boston Scientific will make payments tied to development milestones, and also sale-based royalties, in addition to purchasing 2.5 million of CryoCor's stock. It will also purchase another $2.5 million tied to development milestones. ...
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