iMDx Amends Chronix Merger Agreement, Replacing Ongoing 10% CNI Monitor Royalty With 10% Sale Payment Upon CNI Monitor Sale
As previously reported, Insight Molecular Diagnostics Inc. (the "Company" or "iMDx") entered into an Agreement and Plan of Merger dated February 2, 2021, amended February 23, 2021, and amended and
iMDx changed how it pays for a product it bought called Chronix. Instead of paying royalties every year, it will pay when the product sells. This shows the company is adjusting its deal to match its business plans.
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