SurModics Recruits Abbott To Commercialize SurVeil Drug-Coated Balloon
Abbott will pay SurModics $25m upfront and up to $67m in milestones for the exclusive right to commercialization SurVeil worldwide.
You may also be interested in...
SurModics suspended the trial with their SurVeil drug-coated balloon in March after the US FDA sent a letter to physicians alerting them to possible safety problem with paclitaxel-coated devices. The company has updated the patient consent form and established a new patient follow-up program for the trial.
Drug-coated balloon (DCBs) catheters have become the latest weapon in the fight against peripheral artery disease in the US, although they have been in use in Europe for some time. While the number of procedures employing DCBs is still dwarfed by conventional angioplasty procedures, they are expected to grow at a much faster rate, fueling a market projected to reach $1 billion by 2020; meanwhile other procedures such as mechanical atherectomy are also expected to show significant growth.
The FDA recently cleared the TruDi Shaver Blade, an electromagnetically navigated blade for the incision and removal of soft and hard tissue or bone in ear, nose, throat, and maxillofacial surgery, as well as head and neck and skull-base surgery.