Boston buys Celsion's Prolieve assets:
This article was originally published in Clinica
Executive Summary
Boston Scientific is to pay $60m to purchase Celsion's Prolieve technology for treating benign prostate hyperplasia (BPH). The two companies have been partners since striking a deal in January 2003 which gave Boston exclusive US marketing and distribution rights to the FDA-approved Prolieve system, as well as an option to buy the technology. The Natick, Massachusetts firm will pay the $60m in instalments over two years. The disposal of Prolieve will transform Celsion to an oncology drug-focused company, and allow it to channel its resources on developing its lead drug, ThermoDox.
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