Micrus Endovascular Corporation (MEND) and Genesis Medical Interventional, Inc. Sign License, Development and Commercialization Agreement  
1/17/2008 8:57:56 AM

SAN JOSE & REDWOOD CITY, Calif.--(BUSINESS WIRE)--Micrus Endovascular Corporation (Nasdaq:MEND) and privately held Genesis Medical Interventional, Inc. today announced that they have entered into an agreement granting Micrus the rights to Genesis’ F.A.S.T.™ Funnel Catheter™ and clot retrieval system for the treatment of ischemic stroke. The transaction includes an initial upfront payment, future development milestone payments and an undisclosed royalty on potential future products sales.