GUERBET : Guerbet announces its acquisition of Accurate Medical Therapeutics, an innovative company that develops microcathet...
January 08 2018 - 12:12PM
- Acceleration of the interventional radiology
strategy
- Acquisition of a unique technology for image-guided
embolization procedures
Villepinte (France), January 8, 2018 (17:45 CET) -
Guerbet (FR0000032526 GBT), a global specialist in contrast agents
and solutions for medical imaging, announced that it has entered
into an agreement under which it will acquire Israeli company
Accurate Medical Therapeutics ("Accurate"), which specializes in
the development of microcatheters used in interventional
radiology.
Accurate has developed a range of microcatheters
for embolization procedures of tumors and vascular aneurysms. These
products are currently being registered with the US and European
health authorities.
This range includes two series of
microcatheters:
- The first series was designed and developed to propose an
optimization of microcatheters intra-arterial navigation to
interventional radiologists, even in case of tortuous vascular
network and hardly accessible lesions.
- The second series possess the same optimized navigation
qualities, while also incorporating unique anti-reflux technology.
This effect is achieved thanks to side holes located in the
terminal part of the catheter, which create a fluid barrier
preventing the reflux of embolization microspheres.
This new technology makes it possible to administer more
embolization microspheres to the targeted treatment area while also
preventing them from refluxing upstream to arteries irrigating
healthy tissues (non-targeted areas that need to be preserved).
http://bit.ly/2DaNLKk Standard microcatheter, positioned in the
artery irrigating the tumor: the embolization microspheres travel
not only downstream (desired effect) but also upstream (undesired
effect), in an artery irrigating healthy tissues that need to be
preserved.
http://bit.ly/2mfvCUj Anti-reflux microcatheter:
the anti-reflux technology sends all the embolization microspheres
downstream into the area to be treated. The healthy tissue
continues to be irrigated by blood free of microspheres.
Interventional radiology covers all the
image-guided procedures which allow to diagnose and treat patients
in a minimally invasive way. The scope of procedures is very large
and includes, among the most wellknown, dilatation of stenotic
arteries, tumor ablations, replacement of cardiac valves,
vertebroplasty, etc. This market is several billion euros but is
difficult to globally evaluate because of its heterogeneity. The
segment that is mainly targeted today by Guerbet is arterial
embolization for tumors and aneurysms; it is valued at about 600
million euros. In this segment, the part of microcatheters is
around 120 million euros and is growing at an annual rate of 5% to
10%.
"This acquisition will fuel Guerbet's growth in
interventional radiology and will round out its current portfolio.
This new range of microcatheters will allow us to help
interventional radiology teams deliver a higher quality of care
during image-guided embolization procedures" said Yves L'Epine,
Guerbet's CEO.
"We are very pleased with this agreement between
Guerbet and Accurate. We are confident that Guerbet has significant
assets and resources that will enable our range of microcatheters
to become market leader, in particular the microcatheters
possessing the unique anti-reflux technology. It allows to augment
embolization of target area while preventing damage to healthy
tissues which must be preserved" said Doctor Michael Tal, inventor
and co-founder of Accurate.
Under this agreement, Guerbet will acquire 100%
of Accurate's capital share, with an initial payment of 19.5
million euros and additional payments spread over several years
depending on the achievement of regulatory and commercial
objectives. The total amount of the acquisition will not exceed 57
million euros. The transaction is expected to start generating
sales by the end of this year and be accretive from the 4th quarter
of 2019.
Accurate, founded in 2015, will retain its
structure in Israel and will continue to be led by its inventor,
co-founder and CEO Eran Miller.
About Guerbet
Guerbet is a pioneer in the contrast agent
field, with more than 90 years' experience, and is a leader in
medical imaging worldwide. It offers a comprehensive range of
pharmaceutical products, medical devices and services for
diagnostic and interventional imaging, to improve treatment of
patients. With 7% of revenue dedicated to R&D and more than 200
R&D employees distributed amongst its three centers in France
and the United States, Guerbet is a substantial investor in
research and innovation. Guerbet (GBT) is listed on Euronext Paris
(segment B - mid caps) and generated €776 million in revenue in
2016. For more information about Guerbet, visit www.guerbet.com
Forward-looking statements
This press release may contain statements of a
forward-looking nature, based on assumptions and predictions made
by the management of the Guerbet group. Various known and unknown
risks, uncertainties and other factors could lead to marked
differences between the future results, financial situation,
development and performances of the company, and the estimates made
here. These factors include those mentioned in the public reports
of Guerbet, available on its website www.guerbet.com. The company
assumes no responsibility whatsoever in relation to the updating of
these forward-looking statements, or how they correspond to future
events or developments.
Contacts
Jean-François Le
Martret Chief Financial Officer +33 (0) 1 45 91 50 00
jean-francois.lemartret@guerbet-group.com Anne-Laure
Delasalle Global Communications Director +33 (0) 1 45 91 50 03
anne-laure.delasalle@guerbet-group.com |
Christophe de
Lylle/Benjamin Lehari +33 (0) 1 56 88 11 11 cdelylle@actifin.fr
/ blehari@actifin.fr Press Jennifer Jullia +33 (0) 1
56 88 11 19 jjullia@actifin.fr |
Attachments:
http://www.globenewswire.com/NewsRoom/AttachmentNg/99bc34d3-cf81-4aa3-aef3-bedabeefa1de
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