The $4.5 million deal for Stella’s tool was made up of $3.5 million in cash and $1 million in ProPhase stock, with the opportunity to earn an additional $2 million based on a revenue commercial milestone after five years post deal, according to a Dec. 19 news release from ProPhase.
Stella will also receive a 5 percent royalty based on adjusted commercialized gross margin of its intellectual property. The deal is subject to stockholder approval, and a close is expected in January 2023, according to the release.
The pre-cancer screening tool is designed to find cancer early and has been tested on 200 individuals. It has shown a 99 percent sensitivity and specificity rate of detecting protein expression cells that are at high risk for cancer.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
