First I will clarify that I am an ex-holder with a fairly negative view on this company. The announcement came across differently to me. First of all - the rights to a product is different to giving the 'IP outright' remembering that the IP is on the adapt process of treating the tissue. Making pericardium patches in general isn't such a big deal (with the exclusion of the 3D model).
The manufacturing costs + a built in margin will be applied for supplying LMAT. This will cover the COGS incurred. Not sure what the operational / 'corporate' costs incurred as a direct result of the operation in WA but my guess that most of the fat is in the executive/management and sales positions. The sales positions will disappear (recruitment, training, wages) but costs incurred for regulatory/legal, administrative, R&D will be there still...
It'll be interesting to see how this pans out from here on.
Ann: CardioCel and VascuCel rights sold to LeMaitre Vascular, page-141
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