Dive Brief:
SPONSORED BY ACKNOWLEDGE REGULATORY STRATEGIES
This is not your typical regulatory affairs conference
Join a group of former-FDA reviewers from CDRH as they cover regulatory topics and updates to medical device regulations. The goal is to guide medical device manufacturers, investors, startups, and RA professionals on the best, safest, and fastest way to get their technology to market.
Dive Insight:
Boston Scientific's Oncozene, Embozene and Embozene Tandem products, used to treat arteriovenous malformations and hypervascular tumors reportedly brought in more than $21 million for the company in 2018. Boston Scientific paid $70 million upfront to acquire the microsphere portfolio from CeloNova Biosciences in 2015.
BTG's beads are part of what made the U.K. device maker's interventional oncology and vascular businesses attractive to Boston Scientific in the first place.
At an investor event last week, Boston Scientific executives said the company will prioritize expansion of cancer indications and geographic reach of BTG's TheraSphere radioembolization therapy, which it sees as a potential billion dollar opportunity by 2022.
Jefferies analysts foresee Boston Scientific letting go of other BTG businesses. "[W]e continue to expect the non-core BTG assets (pharma and licensing) to be divested shortly after close," they wrote in a June 26 note to investors.
Varian has had its own small M&A spree this year. The company said the beads assets build on its June acquisitions of Endocare, a cryoablation and microwave ablation hardware and software maker, as well as embolic therapy company Alicon. Varian also spent more than $280 million to acquire Cancer Treatment Services International and bought intellectual property from cardiac radioablation company Cyber Heart in 2019.
Varian said it does not expect the deal to materially impact fiscal year 2019 results.