Boston Scientific has signed an agreement to divest its drug-loadable microsphere and bland embolic bead products to cancer care solutions provider Varian Medical Systems.
Varian is set to pay $90m for the products, which are indicated for the treatment of arteriovenous malformations and hypervascular tumours.
The deal covers Boston Scientific’s drug-loadable Oncozene and Embozene Tandem microsphere as well as bland embolic Embozene bead products.
Oncozene and Embozene microspheres are calibrated microspheres that are engineered to provide better embolization control and improved visualisation during the suspension, noted Boston Scientific.
Varian expects the acquisition of the bead products to boost its new interventional oncology platform while leveraging the products’ regulatory clearances in more than 35 global markets.
Varian Medical Systems president and CEO Dow Wilson said: “This acquisition from Boston Scientific will strengthen Varian’s growing position in the high-value interventional oncology segment and is consistent with our long-term strategy to become a global leader in multidisciplinary, integrated cancer solutions.
“We look forward to completing this acquisition and are excited to add these drug-loadable microsphere and bland embolic bead products to our portfolio to provide our clinical partners with expanded advanced treatment options.”
Varian Medical Systems added that the deal does not include any Boston Scientific operations.
The companies entered transition services agreements to prevent any interruptions to product delivery before Varian implements a manufacturing and distribution plan.
The deal is scheduled to close around August this year and is subject to customary closing conditions, including the US Federal Trade Commission (FTC) approval and the closing of Boston Scientific’s proposed acquisition of BTG for $4.2bn.
The agreement comes after the FTC requested additional information and documentary material from Boston Scientific and BTG in February. In its request, FTC highlighted Boston Scientific and BTG’s therapeutic beads businesses.