Inovio Biomedical, Cardigant Medical In Licensing Deal

San Diego-based Inovio Biomedical and Long Beach-based Cardigant Medical announced this morning that the two firms are in a commercial license, where Cardigant Medical will use Inovio's technology to develop intravascular catheters. Financial details of the license were not disclosed, however, Inovio said that Cardigent will develop catheters using its electroporation technology, in exchange for an option fee, and on exercise of the option, royalties on product sales. The firms said that the move may help enhance the utility of drugs or gene-based therapy in treating vascular conditions.