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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D. C. 20549
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FORM 8-K
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CURRENT REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the three months ended December 31, 1998
Commission File Number 0-10683
HYDROMER, INC.
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(Exact name of registrant as specified in its charter)
New Jersey 22-2303576
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(State of incorporation) (IRS Employer
Identification No.)
35 Industrial Pkwy, Somerville, New Jersey 08876-3518
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (908) 526-2828
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Item 5.
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On February 25th, Hydromer, Inc., signed agreements with CR Bard, Inc. for
exclusive rights to new lubricious coating technologies. The terms include an
equity investment of $880,000 for 220,000 shares of Hydromer's common stock at
$4.00 per share.
Additionally, CR Bard, Inc. and Hydromer executed a license agreement and a
license and supply agreement for exclusive rights to apply recently developed
Hydromer (R) Stay-Wet(TM), Super-Slip(TM) and biostatic lubricious coating to
intermittent urinary and foley catheters. The license agreement and license and
supply agreement run until May 2005 with options to extend at the discretion of
CR Bard, Inc. The terms of the agreement include annual minimum purchases. CR
Bard, Inc. also has secured option rights on future Hydromer, Inc. coating
developments useful for intermittent urinary and foley catheters as part of the
transaction.
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Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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EXHIBIT
10.bq License Agreement: To be filed by amendment
10.br License and Supply Agreement: To be filed by amendment
10.bs Stock Purchase Agreement: To be filed by amendment
10.bt Registration Rights Agreement: To be filed by amendment
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: March 4, 1999 HYDROMER, INC.
/s/ KENNETH P. BRICE
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Kenneth P. Brice
Vice-President-Finance
