Boston Scientific Corp has announced it will acquire Xlumena Inc, a medical device company that produces minimally invasive devices for endoscopic ultrasound (EUS) guided transluminal drainage within the gastrointestinal tract. According to a statement, Xlumena’s product line broadens Boston Scientific’s portfolio for treatment of pancreatic pseudocysts and better positions the company to lead the EUS market.
Xlumena’s portfolio includes the Axios and Hot Axios stent and delivery systems. Cleared by the FDA, the Axios system is designed for endoscopic ultrasound-guided transluminal drainage of symptomatic pancreatic pseudocysts, while the Hot Axios system incorporates cautery into the delivery of the Axios stent. Both systems have received the CE mark.
“Our combined technologies enable physicians to diagnose and treat diseases of the pancreatico-biliary system using less invasive procedures,”said David Pierce, senior vice president and president, Endoscopy, Boston Scientific. “We are very pleased to be able to accelerate the global reach of the Axios stent and to be at the forefront of this fast growing segment.”
According to the announcement, the deal will include an upfront payment of $62.5 million, with an additional $12.5 million payable upon FDA clearance of the Hot Axios system. Subsequent payouts will be determined by sales-based milestones achieved through 2018.