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Anesiva, Inc. (ANSV) Completes Sale of its Zingo(TM) Assets to Powder Pharmaceuticals and Lee's Pharmaceutical


12/10/2009 8:43:12 AM

SOUTH SAN FRANCISCO, Calif., Dec. 9 /PRNewswire-FirstCall/ -- Anesiva, Inc. announced today that on December 3, 2009, Anesiva entered into an Asset Purchase Agreement which assigned its rights under the Revised License Agreement with PowderJect Technologies, Ltd., dated November 30, 2009, and sold certain assets related to Zingo to Powder Pharmaceuticals, Inc. (Powder Pharma), a British Virgin Island LLC, and Lee's Pharmaceuticals (HK) Limited (Lee's Pharma), a British Virgin Island LLC. Under the terms of the Asset Purchase Agreement, the total purchase price of the Zingo-related assets was approximately $2.7 million with payment contingent on the delivery of certain assets to Powder Pharma and Lee's Pharma.

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