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Sale and Exclusive License/Supply Agreement with Bimini Technologies | 12 Months Ended
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Dec. 31, 2015
Sale and Exclusive License/Supply Agreement with Bimini Technologies [Abstract] |
Sale and Exclusive License/Supply Agreement with Bimini Technologies |
5. | Sale and Exclusive License/Supply Agreement with Bimini Technologies
On July 30, 2013, we entered into a Sale and Exclusive License/Supply Agreement with Bimini Technologies LLC (“Bimini”), pursuant to which we sold to Bimini substantially all of the assets (other than certain retained rights and licenses) of our Puregraft® product line, a series of standalone fat transplantation products that were developed to improve the predictability of outcomes for autologous fat grafting and aesthetic body contouring. The aggregate value of the consideration paid by Bimini at the execution of the agreement was $5.0 million. The Company recorded a gain on the Puregraft divestiture of $4.5 million in the accompanying Consolidated Statements of Operations in 2013. Bimini is obligated to make certain additional milestone payments to the Company (in an aggregate amount of up to $10.0 million), contingent upon the achievement of certain milestones relating to Bimini’s gross profits from sales of the Puregraft products

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