Calypte sells HIV diagnostic test lines to Maxim Biomedical

By Ted A. Knutson

Washington, Nov. 21 - Calypte Biomedical Corp. said Monday it sold its Food and Drug Administration-approved EIA and Western Blot HIV diagnostic test lines to Maxim Biomedical, Inc.

The product lines in the sale include the urine EIA HIV diagnostic test product, serum/blood Western Blot HIV diagnostic test, and urine Western Blot HIV diagnostic test product, the company said in an 8-K filed with the Securities and Exchange Commission.

In the transaction, Maxim assumed liabilities related to the product Lines, including two real property subleases in Rockville, Md., and lease obligations of equipment between Calypte and Vencore.

In exchange for the product lines, Calypte received a 20% equity interest in Maxim and will receive 10% of the gross proceeds in the event another company acquires Maxim.

The deal also calls for Calypte to perform consulting services for Maxim for 24 months and not to compete with Maxim on the product lines for 10 years.

Calypte Biomedical is a Lake Oswego, Ore.-based biotech company.

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