Medeon signs asset purchase agreement with Terumo for XPro System bore vascular closure system.
M2 EQUITYBITES-March 5, 2018-Medeon signs asset purchase agreement with Terumo for XPro System bore vascular closure system
(C)2018 M2 COMMUNICATIONS http://www.m2.com
Taiwanese medical device company Medeon Biodesign Inc (TPEx:6499) reported on Friday the launch of a definitive asset purchase agreement for its large bore vascular closure XPro System with Terumo Corporation (TSE:4543), based in Tokyo.
The transaction consists of an up-front payment of USD20m as well as future milestone payments to Medeon Biodesign Inc.
Medeon added that it will continue to provide its strong expertise in product innovation as well as future technical, clinical and regulatory developments of the closure system.
According to the company, the large bore vascular closure system (XPro System) is an automated suture-mediated closure device to simultaneously deliver two pairs of sutures, specifically targeting percutaneous large bore procedures, including Transcatheter Aortic Valve Replacement (TAVR), Endovascular Aneurysm Repair (EVAR), Thoracic Endovascular Aneurysm Repair (TEVAR) and percutaneous Balloon Aortic Valvuloplasty (BAV) procedures.
XPro System's safety and effectiveness have been successfully demonstrated through a CE Marking clinical study in New Zealand, Australia and Taiwan, with patients undergoing percutaneous endovascular procedures utilising 8-18 Fr introducer sheaths via the common femoral artery. The device achieved immediate or rapid hemostasis at the puncture sites with excellent clinical outcomes, including fast ambulation and discharge from hospitals, concluded the company.
((Comments on this story may be sent to firstname.lastname@example.org))
|Printer friendly Cite/link Email Feedback|
|Publication:||M2 EquityBites (EQB)|
|Date:||Mar 5, 2018|
|Previous Article:||DFDS reports on award of shares to employees.|
|Next Article:||Rovio Entertainment's profit up in 2017.|