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BioDelivery Sciences International (BDSI) Announces $2,500,000 Asset Sale To Accentia, Inc.



10/19/2005 5:10:19 PM

BioDelivery Sciences International, Inc. (Nasdaq:BDSI), (Nasdaq:BDSIW) announced today that it has entered into a definitive Asset Purchase Agreement with Accentia, Inc. ("Accentia") pursuant to which BDSI has sold to Accentia, effective today, an asset consisting of a royalty revenue stream in consideration of a one-time, irrevocable cash payment of $2,500,000. Pursuant to the Asset Purchase Agreement, such cash payment is required to be made by Accentia by September 30, 2004, but BDSI anticipates that payment will be received sooner than such date. Accentia's payment obligation is not subject to contingencies.

Read at BioSpace.com


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