Nuo Therapeutics enters Centrio distribution pact with Smith & Nephew

Nuo Therapeutics (AURX) announced it has entered into an exclusive private label distribution agreement with Smith & Nephew (SNN). Under the agreement, Smith+Nephew will market and sell Centrio Platelet-Rich Plasma System, their own branded version of Nuo’s underlying Aurix System to the United States wound care market. Nuo will continue to be responsible for manufacturing the product. The Aurix product brand sold separately by Nuo will remain in the market under Nuo’s full control and will be fully available commercially subject to certain customer overlap conditions more fully addressed in the agreement. In exchange for Smith & Nephew’s exclusive distribution rights for Centrio over the initial term of five years, Nuo has received an upfront distribution fee, and will be entitled to certain minimum purchase commitments at agreed transfer pricing. Nuo will also be eligible to receive certain reimbursement coverage milestone payments subject to successful achievement of additional reimbursement coverage conditions.