IMCOR PHARMA CO NEW (OTC:ICRP)
Industry: Healthcare
IMCOR Pharmaceutical Co. (IMCOR), incorporated on December 28, 1994, is a development-stage pharmaceutical company previously focused on developing medical imaging pharmaceutical products. The Company has one United States Food and Drug Administration (FDA) approved product, Imagent (perflexane lipid microspheres), an ultrasound imaging contrast agent that was acquired in June 2003. Imagent is a sterile powder comprising hollow, porous microspheres that contain the internal gases perflexane vapor and nitrogen. Imagent was sold in a complete kit, which includes the sterile water for reconstitution and all other components necessary to prepare and administer the agent, all of which are stored at room temperature. When the sterile water is added, the formulation is a dispersion of flexible, surfactant-coated microbubbles in a buffered solution. The microbubbles suspended within this solution are, on average, smaller than a red blood cell and, upon injection, circulate freely within the small blood vessels, through the organs and tissue. During an ultrasound exam, the microbubbles are highly echogenic in that they strongly reflect the ultrasound beam and provide enhancement within the area being examined. As part of the Imagent acquisition, IMCOR also assumed a worldwide development and commercialization agreement for Imagent with Schering Aktiengesellschaft (Schering AG) providing the Company rights to market the product worldwide until mid-2008. In October 2004, it entered into a non-exclusive technology cross-license agreement with Bristol-Myers Squibb Medical Imaging, Inc. covering ultrasound contrast agent patents. Under the agreement, Bristol-Myers Squibb Medical Imaging, Inc. and IMCOR will have the right to further develop and commercialize their respective ultrasound contrast imaging agents. The Company competes with GE Healthcare, Inc. and Bristol-Myers Squibb.
As Of: 10/07 00:00 ET
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