Medtronic has bought endoscopic diagnostic player Crospon. The takeover, which media reports value at about $45 million, gives Medtronic control of FDA-cleared systems for assessing motility disorders and supporting the treatment of esophageal strictures.
Irish business publication Fora picked up on the news late last week, before the Times ran its own report on the takeover. Both publications put the value of the deal around the $45 million mark, although some of that figure is tied to milestones.
In return for the outlay, Medtronic is adding Endoflip and Esoflip to its portfolio.
Endoflip is built on functional luminal imaging probe (Flip) technology developed by Crospon. The device consists of a balloon catheter that is inserted into the area being measured and injected with a conductive solution. This enables electrodes in the balloon to record voltage. In doing so, Endoflip builds up a picture of the geometry of the esophagus, pylorus and anal sphincters using high-resolution impedance planimetry.
Crospon’s second device, Esoflip, works in conjunction with Endoflip to enable doctors to measure stricture size throughout the balloon dilation process without fluoroscopy.
Medtronic sees the devices slotting into its broader gastrointestinal portfolio.
“The acquisition expands our portfolio for the management of gastrointestinal diseases. With Crospon, Medtronic will have solutions to esophageal diseases from diagnosis to therapy,” a spokesperson for Medtronic told The Times.
By Nick Paul Taylor
Source: Fierce Biotech
Hybrid closed-loop systems rely on an algorithm to first analyze real-time blood sugar readings from a continuous glucose monitor, then use the results to adjust an insulin pump’s output as needed throughout the day. In this case, the algorithm was developed by Diabeloop, the CGM is a Dexcom G6 sensor, and the insulin pump comes from ViCentra.
Boehringer Ingelheim has acquired bacterial cancer therapy company T3 Pharmaceuticals in a deal that could be worth up to 450 million Swiss francs ($508 million). The addition of Allschwil, Switzerland-based T3 will “significantly expand” the German drugmaker’s immuno-oncology pipeline and aligns with some of the company’s existing R&D programs.
EuroAPI has completed the acquisition of BianoGMP, a contract development and manufacturing organization (CDMO) specializing in oligonucleotides. The acquisition, announced in August, further differentiates its value proposition to support a broader client base across the whole oligonucleotide development continuum, from research to commercialization, EuroAPI said.