AngioDynamics estimates more than 200,000 atherectomy procedures are performed in the U.S. each year, representing a growing market of over $500 million. (Wikimedia Commons)
AngioDynamics signed a $66 million deal to acquire Eximo Medical, which has been looking to commercialize its laser-based treatment for peripheral artery disease found both above and below the knee.
The cash deal includes $46 million upfront plus up to an additional $20 million in technical and sales-based milestones. AngioDynamics aims to add the 510(k)-cleared treatment to its suite of vascular therapies alongside its thrombus management and venous insufficiency products, in addition to its offerings in vascular access and oncology.
“The acquisition of Eximo brings a remarkable, foundational technology to our portfolio that will change the way caregivers deliver treatment to patients with PAD,” AngioDynamics President and CEO Jim Clemmer said in a statement.
“The market is ripe for disruption, and the level of precision, safety, and efficiency offered to physicians by this laser technology creates a substantially differentiated alternative to legacy atherectomy devices,” Clemmer said.
Eximo’s 355-nm wavelength platform delivers short, high-powered laser pulses through fiber-optic cables to help remove plaque from inside the blood vessel while lowering the risk of perforating the artery. It is designed to work on a variety of lesion types from soft plaque to severely calcified, according to the company.
AngioDynamics estimates that more than 200,000 atherectomy procedures are performed in the U.S. each year, representing a growing market of over $500 million. The device is also indicated for in-stent restenosis, or the re-narrowing of a vessel following the placement of a stent.
“We believe that AngioDynamics’ existing resources and commercial acumen will enable a large number of patients to benefit from Eximo’s laser technology, and we look forward to extending its utility into other indications within vascular and elsewhere,” said Eximo CEO Yoel Zabar.
