AngioDynamics has acquired Israel-based early commercial-stage medical device company Eximo Medical for $46m up-front consideration.
The deal also includes $20m of contingent consideration based on the achievement of certain technical and revenue milestones.
The acquisition will allow AngioDynamics to expand its vascular interventions and therapies (VIT) product portfolio with the addition of Eximo’s advanced laser technology, which secured 510(k) from the US Food and Drug Administration (FDA) to treat peripheral artery disease (PAD).
Eximo Medical provides 355nm wavelength laser-technology platform
The Eximo technology is said to compliment AngioDynamics’ thrombus management and venous insufficiency technologies.
AngioDynamics president and CEO Jim Clemmer said: “The acquisition of Eximo brings a remarkable, foundational technology to our portfolio that will change the way caregivers deliver treatment to patients with PAD.
Eximo’s laser technology, which is differentiated from other major medical devices, is claimed to be the only system that can deliver short, high-powered pulsed-laser energy in 355nm wavelength without disturbing the integrity of its fibre optic cables during atherectomy procedures.
The technology holds the capacity to minimise the risk of perforation through tissue selectivity, as well as the risk of embolisation to the patient through the availability of aspiration.
Eximo’s technology can also be used for the treatment of in-stent restenosis (ISR), a gradual re-narrowing of the artery after a blockage has been previously treated with a stent.
The laser technology can also be used for the treatment of a variety of PAD lesion types both above and below-the-knee.
Eximo Medical CEO Yoel Zabar said: “We believe that AngioDynamics’ existing resources and commercial acumen will enable a large number of patients to benefit from Eximo’s laser technology, and we look forward to extending its utility into other indications within vascular and elsewhere.
In September this year, AngioDynamics agreed to acquire a medical diagnostic and device firm, RadiaDyne, which is involved in the designing and development of patient dose monitoring technology to enhance cancer treatment outcomes.
