Boston Scientific Signs Deal to Acquire Xlumena
Boston Scientific has agreed to acquire Xlumena, a venture-backed devicemaker specializing in endoscopic ultrasound-guided transluminal drainage of targeted areas within the gastrointestinal tract. The Marlborough, Mass., devicemaker announced it had signed a definitive agreement last week.
Xlumena’s portfolio contains the AXIOS and HOT AXIOS stent and delivery systems, which will broaden Boston Scientific’s treatments for pancreatic pseudocysts, pancreatic ductal obstruction or pancreatic trauma cases, the company says.
The FDA-cleared AXIOS system is the first stent worldwide designed for endoscopic ultrasound-guided transluminal drainage of symptomatic pancreatic pseudocysts, with the HOT AXIOS system upgrade incorporating cautery delivery. Both systems are CE Mark-indicated for facilitating transgastric or transduodenal endoscopic drainage of pancreatic psuedocysts or the biliary tract. The AXIOS and HOT AXIOS systems are not available for U.S. sale.
The Xlumena acquisition will allow physicians to use the companies’ combined technology to diagnose and treat pancreatico-biliary system patients with minimally invasive procedures, says David Pierce, Boston Scientific’s senior vice president and president, Endoscopy.
As stipulated by the agreement, Boston Scientific will pay $62.5 million upfront, with an additional $12.4 payment upon FDA clearance of the HOT AXIOS system and other sales-based milestones through 2018. — Jason Scott