iSTAR Medical enters into strategic alliance with AbbVie
Client(s) iSTAR Medical SA
Jones Day advised iSTAR Medical SA in its strategic alliance with AbbVie (NYSE: ABBV).
Under the terms of the agreement, iSTAR Medical received a $60 million non-dilutive upfront payment and will continue to develop and commercialize MINIject® until completion of the STAR-V clinical study. AbbVie holds the exclusive right to acquire iSTAR Medical and lead subsequent global development and commercialization of the MINIject device. If AbbVie exercises the right to acquire iSTAR, the stockholders of iSTAR Medical would also be eligible to receive additional contingent payments of up to $475 million in a closing payment and upon achievement of certain predetermined milestones.