AngioDynamics Acquires Eximo Medical for $66 Million to Expand Peripheral Artery Disease Portfolio

VCBeat (WeChat ID: vcbeat) learned from foreign media that on November 8, 2019, local time, AngioDynamics, a medical device company headquartered in New York, USA, announced the signing of a commercial agreement to acquire Eximo Medical (Eximo) for $66 million. The latter is an early-stage commercial medical device company that has been seeking to commercialize its laser-based platform therapies for peripheral artery disease.

The transaction includes a $46 million upfront payment and $20 million in technical and sales milestones. Under the agreement, the deal is to be settled solely in cash.

AngioDynamics, established in 1992, is a medical device company. The company addresses unmet patient needs by raising the standard of care for vascular, peripheral vascular, and oncologic conditions through its breakthrough medical devices. AngioDynamics’ portfolio includes radiofrequency ablation (RFA) systems, malignant tissue resection systems, the NanoKnife® Ablation System, and embolization therapy products.

Eximo Medical, founded in 2012 and headquartered in Israel, is an early-stage medical device company. The company possesses a proprietary 355nm wavelength laser technology platform and has received FDA 510(k) clearance for its B-Lase Atherectomy System, which is indicated for the treatment of arterial stenosis and occlusions, including those caused by peripheral artery disease (PAD).

Eximo Medical’s 355 nm wavelength laser technology platform can deliver high-power laser pulses through fiber-optic cables, helping to clear plaque from within patients’ blood vessels while reducing the risk of arterial damage. According to the company, the product is suitable for treating a wide range of lesion types, from soft plaque to severely calcified deposits. Eximo’s technology platform can also be used to treat in-stent restenosis, or the renarrowing of arteries after stent placement.

Eximo Medical’s technology fills AngioDynamics’ gaps in thrombus management and the venous space. Through this transaction, AngioDynamics can expand its existing portfolio of vascular interventional and therapeutic products.

According to AngioDynamics, more than 200,000 atherectomies are performed annually in the United States, representing a growing market valued at over $500 million.

Jim Clemmer, President and Chief Executive Officer of AngioDynamics, stated in a press release: “The addition of Eximo brings exceptional foundational technology to our portfolio, which will transform the way caregivers deliver treatment to patients with peripheral artery disease (PAD). The end market is ripe, and the level of precision, safety, and efficiency this laser technology offers physicians provides a distinct alternative to traditional atherectomy.”

Yoel Zabar, CEO of Eximo Medical, stated, “We believe that AngioDynamics’ existing resources and business acumen will enable a large number of patients to benefit from Eximo Medical’s laser technology, and we look forward to expanding the clinical utility of our products to vascular diseases and other indications.”

(Compiled by: He Li)