Cordis to acquire Vaud-based medtech MedAlliance for up to USD 1.1 billionMonday 24 October 2022
Following its acquisition, Cordis will immediately begin co-promotion of MedAlliance’s SELUTION SLR drug-eluting balloon in markets where it is commercially available. | © MedAlliance
In a total transaction of up to USD 1.135 billion, MedAlliance has signed an exit agreement with Cordis, a worldwide leader in interventional cardiovascular and endovascular technologies.
Cordis, a global developer and manufacturer of interventional cardiovascular technologies, has entered an agreement to acquire MedAlliance to strengthen its position in drug-eluting balloon technologies. Cordis has a legacy of innovation in high-quality and minimally invasive cardiovascular products, building a strong global footprint with operations in more than 70 countries around the world.
MedAlliance will receive regulatory achievement milestones of up to USD 125 million and commercial milestones of up to USD 775 million through 2029, bringing the total transaction to USD 1.135 Billion.
Founded in 2008 and based in Nyon (canton of Vaud), MedAlliance focuses on drug-device combination products, initially for treating coronary and peripheral artery disease. Its flagship product SELUTION SLR (Sustained Limus Release), is a novel drug-eluting balloon platform technology that leverages spherical MicroReservoirs made from biodegradable polymer intermixed with the proven anti-restenotic drug sirolimus.
These MicroReservoirs provide controlled and sustained drug release for up to 90 days, making SELUTION the only drug-eluting balloon using MicroReservoirs and providing the most effective pharmacokinetics release profile of any device on the market.
A breakthrough device developed in the Health Valley
In the heart of the “Health Valley”, MedAlliance is the first drug-eluting balloon company in the world to receive US FDA Breakthrough Device Designation Status for a sirolimus DEB, which has recently been awarded breakthrough status for SELUTION SLR in the treatment of atherosclerotic lesions in native coronary arteries.
To this day, about 9,200 Selution devices have been used commercially, while more than 2,000 patients have been treated in clinical trials.