Terumo Corporation has announced that it has entered into an agreement to acquire assets related to the large bore vascular closure device, Xpro System, from Medeon Biodesign, a Taiwanese publicly traded medical device company.
Under the terms of the agreement, Terumo will pay US$20 million upfront and additional payments based on the achievement of future specific development milestones. It will be funded through cash on hand.
In recent years, the number of percutaneous cardiac and peripheral catheterisation procedures that use a large bore device, such as transcatheter aortic valve implantation (TAVI), endovascular aneurysm repair (EVAR) and thoracic endovascular aortic repair (TEVAR), has been increasing. Usage is projected to increase by over 20% per year. The Xpro System is an automated suture-mediated closure device to simultaneously deliver two pairs of sutures, specifically targeting percutaneous large bore procedures via the common femoral artery. It is designed to achieve rapid and reliable haemostasis at the puncture sites.
The device is undergoing evaluation for CE mark certification in Europe.
Terumo supplies a range of minimally invasive vascular access and closure devices. Terumo continues to expand its product portfolio in growing segments through both in-house development and external investment, such as the recent acquisition of Angio-Seal and Femoseal family of vascular closure devices from Abbott in January 2017.
The product’s safety and effectiveness have been successfully demonstrated through a clinical study in New Zealand, Australia, and Taiwan, with patients undergoing percutaneous endovascular procedures utilising 8–18F introducer sheaths via the common femoral artery. The device achieved immediate or rapid haemostasis at the puncture sites with excellent clinical outcomes, including fast ambulation and discharge from hospitals, a press release from Medeon Biodesign notes.
“Access site complications in large bore procedures remain to be a significant concern among practicing clinicians. Leveraging the advantages of the security of suture-mediated closure and built-in safety mechanisms, the closure system provides a better solution for the large bore procedures with excellent outcomes and rapid haemostasis. We are pleased that the closure system’s unique and innovative technology complements Terumo’s vascular closure device portfolio, and we look forward, together with Terumo’s strong expertise in product development and commercialisation, to accelerating the time to market of the closure system in the emerging large bore market and driving further innovation into the hands of healthcare providers,” said Yue-Teh Jang, chairman and CEO of Medeon.