AngioDynamics buys Oncobionic
This article was originally published in The Gray Sheet
Executive Summary
Privately held irreversible electroporation (IRE) soft tissue ablation technology developer Oncobionic is acquired by AngioDynamics. The deal is valued at up to $25 mil. - including $5 mil. up-front and up to $20 mil. in milestone payments. Announced Oct. 17, the agreement builds on the firms' 2004 distribution and option pact for the IRE device. Trials for liver and prostate cancer are slated to begin in mid-2007, followed by a market launch in 2008. A 510(k) application is pending at FDA for use in general tissue ablation. IRE uses needles, an electrical field and image guidance to disrupt targeted cell membranes without causing thermal damage, firm says...
You may also be interested in...
AngioDynamics Will Break Into Oncology Biz With $220 Mil. Rita Purchase
AngioDynamics will gain immediate access to the targeted tumor ablation market and will fill out its vascular access business in a $220 mil. acquisition of Rita Medical
Japan Grants Global-First Approval To Zolbetuximab, 15 Other New Drugs
Astellas's first-in class CLDN18.2-targeting antibody receives its first approval worldwide, while crovalimab and a number of drugs for rare diseases also receive nods from regulators and are now awaiting reimbursement price-listing.
Hanmi-OCI Merger Hits Wall As Brothers Win Shareholder Vote, Board Seats
The planned merger of Korea's Hanmi Pharm Group with OCI Group hits a major speed bump as the two sons of Hanmi's founder and other candidates recommended by them secture board seats. But it remains to be seen how the Lim brothers will fulfil their ambitious promises.