August 4, 2009

From The News Wire: DexCom and Animas

3-Aug-2009 - Entry into a Material Definitive Agreement, Results of Operations and Financial Condit

On July 30, 2009, DexCom, Inc. ("DexCom"), entered into (i) a Letter of Amendment, amending the Amended and Restated Joint Development Agreement dated January 12, 2009, and (ii) Amendment No. 1 to the Commercialization Agreements, amending the OUS Commercialization Agreement dated January 12, 2009 (collectively, the "Amendments"), each with Animas Corporation ("Animas"). Pursuant to the Amendments, DexCom will collaborate with Animas to develop a modified version of DexCom's transmitter to support a single, global CGM-enabled insulin pump launch by Animas. DexCom is entitled to receive a one-time $1 million milestone payment upon the achievement of performance qualification of a manufacturing line for the modified transmitter and is also entitled to receive an additional one-time $4 million payment upon the first regulatory body approval outside the United States for the new system. The Letter of Amendment modifies the original $5.0 million milestone payment that DexCom was entitled to receive upon receipt of a CE Mark for the first commercializable OUS product. Pursuant to Amendment No. 1 to the Commercialization Agreements the initial term of the OUS Commercialization Agreement is three years from the first commercial product launch, but no later than three years after December 31, 2010.

YDMV Full Disclosure: I own shares of Dexcom. I am also trying to get the things for my kids passed insurance approval.