Immunodiagnostic Buys BoneTRAP Technology for Max £1.5 Million

Immunodiagnostic Systems bought the BoneTRAP diagnostic assay technology and related assets of Finland's Suomen Bioanalytiikka Oy for a maximum of £1.5 million. The payment consists of a £700,000 cash upfront funded through existing cash resources and debt finance, and three annual royalty payments of £70,000 to £140,000, depending on specified level of sales being achieved on the first, second and third anniversaries of the completion of acquisition.

Interactive Investor (http://www.iii.co.uk/news/?type=afxnews&articleid=5216352&action=article)