Global biotechnology firm Rakuten Medical has announced the acquisition of Swiss medical company Medlight SA.
Medlight is a producer of a wide variety of catheters and diffusers for optical light delivery.
The companies did not disclose the terms of the deal.
Medlight’s acquisition enables Rakuten Medical to have a network of ‘well-qualified subcontractors’, creating a path for the quick development of new optical devices under the European and the US medical regulatory standards.
The deal also provides Rakuten Medical with access to broad oversight of a supply chain, essential in the development of the company’s therapeutic light technologies.
Rakuten Medical chairman and CEO Hiroshi Mikitani said: “Medlight is an ideal acquisition as they are global leaders in the development of light dosimetry technologies for a variety of diseases.
“This acquisition secures our supply chain, ensuring the needs of patients are met by optimising and managing continuous improvement of our delivery system.”
Medlight earlier acted as a contract manufacturer for the biotechnology company’s device finishing facility in Germany.
Medlight was founded in 1997. Its technologies have been used by over 35 biotech companies across 70 diagnostic and therapeutic applications with cancer as the primary therapeutic indication.
The Swiss company’s technologies have also been applied to treat cardiovascular, dermatologic and dental diseases, as well as Parkinson’s disease.
Medlight SA founder and CEO Roland Bays said: “Our agreement with Rakuten Medical is a strategic and operational fit.
“We are very excited to combine our innovative technologies to yield the maximum benefit to the medical community, the patients and families that are battling cancer.”