Deerfield Management owned Endologix has acquired medical technology company PQ Bypass to bolster vascular reach to treat unmet medical needs of both abdominal aortic aneurysm (AAA) and peripheral arterial disease (PAD) patients.
PQ Bypass focuses on making new advancements in PAD treatment.
Endologix CEO and chairman Richard Mott said: “The acquisition of PQ Bypass is a seminal moment in Endologix’s history, building upon our leadership in the treatment of abdominal aortic aneurysm to champion disruptive technologies for the treatment of vascular disease.
“We intend to actively pursue new and innovative vascular technologies that are clinically relevant to surgeons, hospitals and patients, with a commitment to world-class medical education, clinical research and excellent procedural outcomes.”
Deerfield Management partner Andrew ElBardissi said: “We are excited about the progress that Endologix has made over the past year.
“With the acquisition of PQ Bypass, we believe the company is positioned to accelerate its leadership in the treatment of vascular disease, and we look forward to supporting continued growth.”
The companies have not divulged the financial details of the deal.
Last September, the Detour System of PQ Bypass received the US Food & Drug Administration Breakthrough Device designation.
This system is the world’s first fully-percutaneous femoral-popliteal bypass device for treating extremely long, complex blockages in the superficial femoral artery (SFA).
It is designed to treat patients who cannot carry out day to day activities by themselves due to their advanced symptomology, severe lesion morphology and multiple co-morbidities.
If PAD advances to claudication or tissue loss, revascularisation is needed to alleviate the ongoing deterioration as well as to prevent amputation.
The Detour System, which comprises the TORUS stent graft and the PQ Crossing Device, is currently being analysed in the DETOUR2 clinical trial in the US and Europe.