TyRx Announces an Equity Investment by Boston Scientific

TyRx Pharma has received an equity investment from Boston Scientific.

Since 2002, Boston Scientific and TyRx have been co-developing novel drug-eluting coatings for cardiovascular stents under a licensing agreement. TyRx is focused on developing a family of proprietary bioresorbable drug-eluting polymers for use in combination medical devices and specialty pharmaceuticals. Terms of the agreement were not disclosed.

TyRx is deploying its coating and delivery technologies across a broad range of medical devices. Combination products are expected to be the highest growth segment of the medical device industry, and TyRx is positioned to be an innovative applications leader in the space.