Sector News

St. Jude Medical Completes Acquisition of Spinal Modulation, Inc.

May 4, 2015
Life sciences
(BUSINESS WIRE) – St. Jude Medical, Inc., a global medical device company, today announced it has completed the acquisition of Spinal Modulation, Inc., developer of the Axium™ Neurostimulator System. The acquisition was completed on May 1, 2015.
With the closing of the acquisition, St. Jude Medical has become the only medical device manufacturer in the world to offer radiofrequency ablation (RFA), spinal cord stimulation (SCS) and dorsal root ganglion (DRG) stimulation therapy solutions for the treatment of chronic pain.
Commenting on the acquisition, St. Jude Medical’s chief operating officer Michael T. Rousseau said: “Completing the acquisition of Spinal Modulation, Inc. is another important step forward in building momentum and accelerating sales growth across our neuromodulation product portfolio. We’re confident the Axium system will further support our goal of providing physicians multiple options to tailor treatment for patients with chronic pain.”
The Axium system has CE Mark in the European Union for the management of chronic intractable pain and TGA approval in Australia for the management of chronic, intractable pain of the trunk and/or limbs. In December 2014, Spinal Modulation announced that enrollment in its ACCURATE U.S. IDE trial had been completed and subsequently submitted its PMA application to the FDA in support of marketing approval in the United States. The full results from the ACCURATE Study will be presented at the 12th annual International Neuromodulation Society (INS) Congress, to be held in Montreal, Quebec, Canada from June 6-11, 2015.
Source: St Jude Medical

Related News

September 18, 2020

Eli Lilly, Amgen join forces to scale production of COVID-19 antibody cocktails

Life sciences

Months of fervid research have whittled away most potential options to treat patients with COVID-19, a group of antibody cocktails still hold promise. Eli Lilly believes so strongly in its contender that it’s […]

September 16, 2020

Takeda unveils new Boston R&D manufacturing center for cell therapy pipeline push

Life sciences

Japanese drugmaker Takeda has trumpeted its plan in recent years to cut billions of dollars in costs and pivot around oncology and rare diseases. A key part of that strategy […]

September 15, 2020

AstraZeneca, Oxford restart stalled COVID-19 test as Pfizer ramps up trial numbers for its vaccine

Life sciences

Just under a week after it stopped its key phase 3 pandemic vaccine test, AstraZeneca and the University of Oxford have been given the green light to restart in the […]