The deal includes “substantially all” of Avail’s assets, said DeFonzo, who offered new details on his company’s objectives as it exits stealth mode.
He declined to disclose financial terms of the deal.
Avail shut down last year for lack of funding. DeFonzo said Mendaera will support customers that were using the existing Avail technology and consoles as its R&D group works on the product roadmap regarding console size and/or features in the coming quarters. However, Avail’s partnership with Medtronic is not part of the transaction, he said.
“We certainly would be happy to work with Medtronic…