Boston Scientific is shelling out up to $275 million to acquire nVision Medical, the developer of the first and only FDA-approved device to collect cells from fallopian tubes used for early detection of ovarian cancer.
Under terms of the sale, Boston Scientific will make a cash payment of $150 million, with another $125 million slated to be paid when certain milestones are reached in the next four years. The company said the purchase isn’t expected to have a material impact on the bottom line on an adjusted basis in 2018 and 2019.
Early research has shown the nVision device effectively collects cells that, after being tested, correlate with a postsurgery definitive diagnosis of ovarian cancer. Boston Scientific said it will begin additional clinical research with the device to determine how the cells collected from the fallopian tubes can be used to make a diagnosis before surgery and help in the decision-making process for women at increased risk for ovarian cancer.
"We estimate the near-term market opportunity to be $500 million with the potential to grow to $2 billion as this device is used by more gynecologists to help even more women," Dave Pierce, executive vice president and president, MedSurg, Boston Scientific, said in a statement. "We are committed to expanding our women's health portfolio and driving clinical research that will help deliver innovative options for the prevention and treatment of gynecological cancer."
nVision's microcatheter technology allows doctors to access a patient's fallopian tubes in the office without the need of any incisions or general anesthesia. The tech is focused in two areas: cell collection from the fallopian tubes and direct visualization of fallopian tube lumen.
Ovarian cancer is the fifth leading cause of cancer death among women, and the Mayo Clinic estimates that more than two million women in the U.S. are at high risk for developing the disease, which occurs more frequently in those with a family history or with BRCA1 or 2 gene mutations.