By Stephen Nakrosis


Artivion on Monday announced amendments to its credit facility and option purchase agreements with Endospan, the privately held developer of the Nexus Stent Graft System.

The agreements date from 2019, when Artivion provided a credit facility to Endospan and entered an option agreement to buy Endospan upon U.S. Food and Drug Administration approval of NEXUS.

Under the amended deal, Artivion will provide additional loans to Endospan of up to $25 million. In addition, the upfront payment associated with the purchase option is now $175 million, from the previous $250 million, inclusive of loan off-set, Artivion said. The new amendments also eliminate a $100 million minimum payout.

Pat Mackin, chairman, president and chief executive officer of Artivion, said based on experience with Nexus in Europe, the company sees significant global opportunity for Nexus technology.


Write to Stephen Nakrosis at stephen.nakrosis@wsj.com


(END) Dow Jones Newswires

07-01-24 1655ET