Novadaq Technologies Inc.

Novadaq Technologies Inc. of Toronto has entered into an asset purchase agreement with Xillix Technologies Corp. of Richmond, British Columbia, Canada. Under its terms, Novadaq will acquire the intellectual property, inventory and certain capital assets of the latter concern for CAD 3 million in cash and stock. The purchased intellectual property includes Xillix’s portfolio of 31 autofluorescence and multimodal imaging patents as well as assorted patents pending in the US, Europe and Japan. The Toronto-based concern intends to use the acquisition to strengthen its commercialization efforts in the area of endoscopic fluorescence imaging and image-guided therapies.