Medeon Biodesign, a Taiwanese maker of minimally invasive surgical devices, sold its large bore vascular closure system to Terumo for $20 million.
The XPro System is an automated suture-mediated closure device that simultaneously delivers two pairs of sutures during percutaneous large bore procedures, including transcatheter aortic valve replacement, endovascular aneurysm repair, thoracic endovascular aneurysm repair and percutaneous balloon aortic valvuloplasty procedures.
Under terms of the agreement, Tokyo-based Terumo will pay an upfront payment of $20 million and additional payments when certain milestones are met. The two companies will continue to collaborate on future regulatory developments of the device.
"Access site complications in large bore procedures remain a significant concern among practicing clinicians,” Yue-Teh Jang, Ph.D., chairman and CEO of Medeon, said in a statement. “Leveraging the advantages of the security of suture-mediated closure and built-in safety mechanisms, the closure system provides a better solution for the large bore procedures with excellent outcomes and rapid hemostasis.”
The XPro system has successfully undergone a CE Marking clinical study in New Zealand, Australia and Taiwan. In those studies, the device achieved immediate or rapid hemostasis at the puncture sites, resulting in improved outcomes and earlier discharge from hospitals, the company said.