Boston Scientific to purchase CeloNova Biosciences' radiology businessMedical Company Restructures
Boston Scientific has announced the acquisition of the interventional radiology portfolio of the endovascular and interventional cardiology technology firm CeloNova Biosciences.
The purchase agreement includes drug-eluting microspheres designed to be loaded with chemotherapy drugs for delivery to cancerous tumours, and spherical embolic products used to treat uterine fibroids and other conditions.
“Boston Scientific has agreed a deal to acquire the interventional radiology portfolio of CeloNova Biosciences.“
It is expected that the deal - which is expected by the end of the year - consists of an upfront payment of $70 million (46.06 million pounds) and additional payments contingent on the fulfilment of regulatory and sales milestones.
This purchase will give Boston Scientific rights to the CeloNova Embozene Tandem Drug-Elutable Microspheres, which can be embedded with drugs used to treat liver cancer, and the US-commercialised Oncozene and Embozene Microspheres, used to treat hypervascular tumours, arteriovenous malformations and hepatoma.
Jeff Mirviss, senior vice-president and president for Boston Scientific's peripheral interventions division, said: "As we continue to build our interventional oncology business, we expect that the team and technologies included in this acquisition will fuel growth in solutions to treat challenging diseases such as liver cancer, particularly in emerging markets."
This comes after the company made a new investment in MValve Technologies last month.See all the latest jobs in Medical Devices