Navidea signs asset purchase agreement with Meilleur Technologies

Navidea has signed an Asset Purchase Agreement allowing Meilleur Technologies to acquire certain assets and assume certain liabilities of Navidea relating to developing and commercializing NAV4694 for a purchase price of $750K plus significant milestone and sales related future payments. The agreement is related to NAV4694, a beta-amyloid imaging agent being evaluated as an aid in the differential diagnosis of early-onset Alzheimer’s disease, providing an exclusive license for Meilleur to develop and commercialize NAV4694 worldwide. Meilleur remitted a cash payment of $250K to the company at closing and agreed to an additional cash payment of $500K to the company within 60 days after the closing date. In addition, certain future milestone-related and contingent payments may be made by Meilleur to the company, based on potential licensing events, regulatory submissions and regulatory approvals, and net sales of approved product derived from NAV4694.