An agreement has been reached under which Medlogics Device will license CV Therapeutics' proprietary biopolymer stent coating technology to develop a drug eluting stent (DES).

CV Therapeutics of Palo Alto, Calif., said it received Medlogics’ stock and is entitled to development milestone payments, royalties and other potential payments on future sales of any products incorporating the technology.

Medlogics of Santa Rosa, Calif, recently received a CE Mark from European regulatory authorities for its cobalt super alloy (COBRA) stent and said it expects to launch the stent in Europe in the first quarter of 2008.

Medlogics anticipates using CV Therapeutics' biopolymer stent coating technology to develop a DES based on the COBRA stent platform.