RenovoRx announced that it is increasing the production of its FDA-cleared RenovoCath catheter-based delivery system due to increased demand for targeted delivery of diagnostic and/or therapeutic agents from oncologists and interventional radiologists. RenovoRx has signed a new project work order with its principal manufacturing partner, Medical Murray of North Barrington, IL, providing for an expanded relationship and as RenovoRx continues its exploration of commercial opportunities for RenovoCath beyond RenovoRx’s currently ongoing clinical programs. To create performance incentives for Medical Murray, RenovoRx will issue Medical Murray a warrant to purchase up to 709,500 shares of RenovoRx common stock. This warrant vests over time and only if Medical Murray achieves certain manufacturing milestones.
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