Endosonics continuesto expand its stable of joint product development partners, thistime with angioplasty catheter company Scimed Life Systems ofMaple Grove, MN. The companies have formed a corporate alliancein which Scimed has purchased a minority
Endosonics continuesto expand its stable of joint product development partners, thistime with angioplasty catheter company Scimed Life Systems ofMaple Grove, MN. The companies have formed a corporate alliancein which Scimed has purchased a minority interest in Endosonicssubsidiary Cardiovascular Dynamics (CVD) and will license anddevelop CVD's balloon angioplasty drug-delivery technology.
The agreement is another sign of the realignment occurringin the interventional industry in the wake of Boston Scientific'spurchase of IV ultrasound firm Cardiovascular Imaging Systems(SCAN 9/14/94). Scimed and CVIS once collaborated in the developmentof an ultrasound imaging guidewire product for coronary and peripheralvascular applications, but the two firms broke off their relationshiplast year (SCAN 5/8/93).
In its alliance with Endosonics, Scimed will fund CVD's developmentof balloon angioplasty drug-delivery devices. Scimed also hasexclusive rights to develop and market products for the cardiovascularmarket using CVD's patented technology in exchange for royaltypayments. CVD will retain marketing rights for its technologyin all other markets, such as peripheral vascular and neurovascularapplications.
Endosonics, of Pleasanton, CA, earlier this month announceda global marketing and distribution deal with catheter firm Cordisof Miami Lake, FL, for intracoronary ultrasound products (SCAN9/14/94).
In other Endosonics news, the company last week announced thatCVD received regulatory clearance from the Food and Drug Administrationto market its Periflow peripheral balloon angioplasty-infusioncatheter. Periflow is capable of performing percutaneous transluminalangioplasty as well as infusing solutions into peripheral vasculature.Endosonics will market Periflow for small-vessel angioplasty applicationsand for delivering angiographic contrast media to remote locationsin vascular anatomy. Limited shipments of Periflow will beginlate this year.