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Latest From VENITI, Inc.
The US FDA approval of Boston Scientific's Vici venous stent is based on VIRTUS trial results which met the prespecified performance goal for primary patency after one year.
Boston Scientific has agreed to pay up to $160m for the remaining 75% of Veniti Inc. that it does not already own. Veniti is a privately held Fremont, Calif. company that has developed and commercialized the Vici venous stent system for treating venous obstructive disease. The transaction price includes $108m upfront and $52m contingent on US FDA approval of Vici.
Q3 medtech financing doubled in dollar volume to $3 billion, with debt offerings again representing the majority of the aggregate; acquisitions totaled $5.3 billion, mainly due to Johnson & Johnson’s $4.3 billion buy of Abbott Medical Optics. Diagnostics financings, which brought in $85 million, continued to decline, but at $5 billion, acquisitions showed a slight increase over the previous quarter, with Danaher’s takeover of Cepheid accounting for most of the M&A volume.
Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Venture Funding Deals column provides a comprehensive monthly review of emerging life science companies that have received venture funding, including companies within the In Vitro Diagnostics, Medical Devices, and Pharmaceuticals sectors. This month’s column covers deals announced February through March 2015.