Otsuka Medical Devices, a 100% subsidiary of Otsuka Holdings Co., Ltd., and Veryan Medical have announced the completion of the acquisition of Veryan by Otsuka Medical Devices through its UK subsidiary Otsuka Medical Devices UK Ltd.
Veryan’s BioMimics 3D peripheral vascular stent received approval from the US Food and Drug Administration (FDA) in October 2018. Following the acquisition, Veryan and Otsuka Medical Devices plan to collaborate in developing Swirling Flow stents for use in the treatment of vascular disease. As part of the acquisition, Veryan’s operations in Galway, Ireland, will be retained by Otsuka Medical Devices and will play a key role in the continued development of the Swirling Flow technology.
Chas Taylor, CEO of Veryan, said: “We are delighted to become part of Otsuka Medical Devices. This will allow Veryan to build on the strong clinical data with the BioMimics stent and realise the potential to significantly advance the treatment of peripheral vascular disease.”
Noriko Tojo, CEO of Otsuka Medical Devices commented: “Veryan’s stent technology represents an excellent fit with our existing activities and has considerable future development potential.”
Otsuka Medical Devices Co., Ltd. focuses on the development and commercialisation of endovascular devices that provide new therapeutic options in areas where patient needs cannot be met through pharmaceutical or other conventional treatment.