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CS Diagnostics Group (OTC: FZRO) signed a landmark agreement to sell and transfer tangible and intangible assets, including patents, for the CS Protect-Hydrogel to CS Diagnostics Corp. The hydrogel-based tissue spacer, designed for radiation therapy, increases the distance between healthy tissue and cancer cells, protecting healthy tissues from high radiation doses.
The CS Protect-Hydrogel received a valuation exceeding €960 million, based on its discounted commercial value. This valuation was supported by a similar product acquired by Boston Scientific (NYSE: BSX) for $500 million in 2018, including additional compensation through distribution revenues. Consequently, CS Diagnostics Corp. issued 110 million shares of common stock on September 27, 2023, representing a $500 million transaction payment.
On July 31, CS Diagnostics Corp. announced compliance with FINRA Rule 6432 after submitting Form 211 through Glendale Securities. This submission does not constitute approval of the issuer or its securities but allows the company to start quoting its stock. CS Diagnostics Corp., a global wholesaler of pharmaceuticals and leading medical technology manufacturer, has been supplying health ministries, practices, clinics, and specialists for over a decade.
Other notable companies in the healthcare sector include: UniQure N.V. (NASDAQ: QURE), bluebird bio, Inc. (NASDAQ: BLUE), and Travere Therapeutics, Inc. (NASDAQ: TVTX).