AngioDynamics has acquired medical device firm Eximo Medical and its laser technology for the treatment of peripheral artery disease (PAD).
The terms of the transaction cover a $46m up-front payment, as well as up to $20m contingent on technical and revenue milestones.
AngioDynamics expects the acquisition to bolster its Vascular Interventions and Therapies (VIT) portfolio, while supporting its thrombus management and venous insufficiency technologies.
AngioDynamics president and CEO Jim Clemmer said: “The acquisition of Eximo brings a remarkable, foundational technology to our portfolio that will change the way caregivers deliver treatment to patients with PAD.
“The market is ripe for disruption and the level of precision, safety and efficiency offered to physicians by this laser technology create a substantially differentiated alternative to legacy atherectomy devices.”
Eximo Medical’s 355nm wavelength, US Food and Drug Administration (FDA)-cleared laser technology is intended to help AngioDynamics cater to a $500m market for atherectomy treatment.
The laser is said to deliver short, high-powered pulsed-laser energy without impacting its fibre optic cables during atherectomy procedures.
Furthermore, it is designed to enable tissue selectivity to avoid perforation risk and aspiration to avoid embolisation risk to the patient.
The technology is also indicated to treat In-Stent Restenosis (ISR), which involves gradual re-narrowing of the artery after a blockage received before treatment with a stent.
Moreover, Eximo Medical’s technology can be used for different above and below-the-knee PAD lesion types. The laser was found to be safe, fast and effective in clinical studies, added AngioDynamics.
Eximo Medical CEO Yoel Zabar said: “We believe that AngioDynamics’ existing resources and commercial acumen will enable a large number of patients to benefit from Eximo’s laser technology and we look forward to extending its utility into other indications within vascular and elsewhere.”