IceCure Is Expected To Receive A Total Of $13.2M In Proceeds From Terumo During This Initial Term, Of Which It Has Received $4M To Date, With An Additional $8.2M Expected Upon The Completion Of Orders, As Well As $1M Expected For Milestone-Based Payments
Portfolio Pulse from Benzinga Newsdesk
IceCure Medical (ICCM) is anticipated to receive a total of $13.2M from Terumo during the initial term, including $4M already received, $8.2M upon order completion, and $1M for milestone-based payments.
May 07, 2024 | 12:45 pm
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IceCure Medical is expected to significantly benefit from the $13.2M proceeds from Terumo, enhancing its financial position.
The receipt of $13.2M from Terumo represents a significant financial inflow for IceCure Medical. This partnership not only provides immediate financial benefits with the $4M already received but also promises future payments upon the completion of orders and achievement of milestones. Such financial injections are crucial for IceCure's operations, potentially funding further research, development, and expansion efforts. The news is likely to be viewed positively by investors, potentially leading to a short-term uptick in ICCM's stock price.
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