NORCROSS,SpextRx has received a $1.5 million earnout payment from Respironics, closing out its sale of a product line to that firm in 2003.
SpectRx (OTCBB: SPRX) says the funds will be helped to launch its new insulin pump as well as development of non-invasive cervical cancer technology.
In all, Respironics paid SpectRx $9.5 million for the BiliCheck product line. BiliChek is a blood test for newborns suffering with infant jaundice.
SpectRx: www.spectrx.com
