TransEnterix (TRXC +1.2%) has agreed to sell certain AutoLap image-based laparoscope positioning system assets to British Virgin Islands-domiciled healthcare investor Great Belief International Limited (GBIL).
Under the terms of the deal, TRXC will retain of the broader intellectual property (IP) portfolio acquired from Medical Surgical Technologies in October 2018 while it will ink a cross-license agreement with GBIL for access to the AutoLap IP it sold. GBIL, in turn, will have a non-exclusive license to the additional AutoLap IP that it did not buy.
GBIL will pay the company $5M by the end of the month and $12M by November 30. It will also acquire $30M of TRXC common stock at $2 per share.
GBIL acquired the company’s SurgiBot in December 2017 for $29M.
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