Endovasc and MIV link on drug-eluting stents
This article was originally published in Clinica
Two companies have formed a deal aimed at boosting their prospects in the expected $6 billion market for drug-coated and drug-eluting stents. The licensing deal will result in the incorporation of Endovasc's PROstent prostaglandin E-1 (PGE-1) coating onto MIV Therapeutics' laser cut stent, the MIVT coronary stent delivery system.
MIV, of Vancouver, British Columbia, will gain an exclusive worldwide licence for the manufacture, distribution and marketing of PROstent. In return, Montgomery, Texas-based Endovasc will receive $2.2 million and royalties. It will also receive funding for part of the research aimed at stent coatings.
The companies note the broad nature of the cardiovascular market will allow for new therapeutic alternatives that can impact various lesion types as well as individual drug tolerances.