Boston Scientific Purchases Celonova’s Interventional Radiology Portfolio

Boston Scientific has reached an agreement to acquire the interventional radiology portfolio of endovascular and interventional cardiology technologies provider CeloNova Biosciences.

Under the transaction — which consists of an upfront payment of $70 million with the potential for additional milestone payments — Boston Scientific will acquire drug-eluting microspheres designed to be loaded with chemotherapy drugs for delivery to cancerous tumors and spherical embolic products for the treatment of uterine fibroids and other conditions.

Specific products include the CeloNova Embozene Tandem drug-elutable microspheres used to treat liver cancer and the Oncozene and Embozene microspheres for the treatment of hypervascular tumors, arteriovenous malformations and hepatoma.

The transaction is expected to close by the end of 2015.— Michael Cipriano