Abbott Boosts Holdings in SpectRx
NORCROSS, Ga., Sept. 7 -- SpectRx said that Abbott Laboratories Inc. will buy an additional $1 million of its stock as part of a milestone payment, but it agreed to postpone payment of another $1 million. The milestone payments are part of an agreement to commercialize SpectRx's diabetes monitoring device. The SpectRx device is worn on top of the skin and measures glucose levels by using a laser to create microscopic holes, or micropores, and draw samples of interstitial fluid. Norcross, Georgia-based SpectRx said the $1 million stock purchase will increase medical device maker Abbott's...Read full article
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Published: September 2001