According to a press release, AngioDynamics has acquired Eximo Medical and its proprietary 355nm wavelength laser-technology platform for US$46 million in up-front consideration with up to US$20 million of contingent consideration related to certain technical and revenue milestones. The transaction is being funded exclusively through the use of cash on hand.
This transaction expands AngioDynamics’ existing Vascular Interventions and Therapies (VIT) product portfolio by adding Eximo’s proprietary laser technology, which has received 510(k) clearance for use in the treatment of peripheral artery disease (PAD). The Eximo technology complements AngioDynamics’ leading thrombus management and venous insufficiency technologies.
“The acquisition of Eximo brings a remarkable, foundational technology to our portfolio that will change the way caregivers deliver treatment to patients with PAD,” said Jim Clemmer, president and chief executive officer of AngioDynamics. “The market is ripe for disruption, and the level of precision, safety, and efficiency offered to physicians by this laser technology creates a substantially differentiated alternative to legacy atherectomy devices.”
Physicians provide atherectomy treatment to over 200,000 Americans annually, and Eximo’s laser technology represents a technological breakthrough among medical devices used in atherectomy procedures to treat PAD today. In acquiring Eximo and its laser technology, AngioDynamics enters a growing US$500+ million market with an innovative medical solution that offers greater versatility, a wider range of treatments, and strong clinical data to support its efficacy.
Differentiated from other legacy medical devices, Eximo’s laser technology is the only system capable of delivering short, high-powered pulsed-laser energy in 355nm wavelength without compromising the integrity of its fibre optic cables during atherectomy procedures. The technology addresses the risk of perforation through tissue selectivity, addresses the risk of embolisation to the patient through the availability of aspiration and is indicated to provide treatment for In-Stent Restenosis (ISR), which is the gradual re-narrowing of the artery after a blockage has been previously treated with a stent.
Additionally, Eximo’s laser technology advances patient treatment options and care by treating a variety of PAD lesion types both above- and below-the-knee. The technology is a safe, fast, and effective system that clinical studies have shown to be effective in treating lesions ranging from soft plaque to severely calcified.
“We are very happy to join AngioDynamics”, said Yoel Zabar, chief executive officer of Eximo Medica. “We believe that AngioDynamics’ existing resources and commercial acumen will enable a large number of patients to benefit from Eximo’s laser technology, and we look forward to extending its utility into other indications within vascular and elsewhere. We would also like to thank the number of physicians that have already partnered with us during our journey, and we look forward to continuing our work together as we expand our physician base.”