Sam Brusco, Associate Editor09.06.23
Laborie Medical Technologies, a diagnostics and therapeutic medtech company, began a transaction to acquire Urotronic, a company pioneering the application of its Optilume drug-coated balloon (DCB) for interventional urology, which includes treating urethral strictures and benign prostatic hyperplasia (BPH).
The deal consists of upfront cash payment of $255 million, and up to an additional $345 million in potential commercial and reimbursement milestone payments.
In tandem with the acquisition, Laborie will also make a $5 million strategic investment into GIE Medical, a clinical-stage company that was spun out of Urotronic. GIE Medical is developing DCB tech to treat strictures in the gastrointestinal (GI) tract.
"There has never been a minimally invasive, combination drug-device therapy like Optilume before, leading to a highly disruptive, paradigm change for physicians treating urethral strictures and BPH," Mike Frazzette, president and CEO of Laborie told the press. "With this acquisition, we will continue to advance innovative technologies by meeting multiple unmet medical needs and in doing so provide solutions that preserve and restore human dignity."
"We are excited to announce this agreement with Laborie, and this acquisition will benefit men suffering from urethral strictures and BPH globally," added David Perry, president and CEO of Urotronic. "Backed by positive clinical data, the Optilume BPH therapy is truly groundbreaking as the only MIST option that doesn't require cutting, burning, steaming or a permanent implant. As global leaders in urology, Laborie will help drive the Optilume BPH technology forward."
Urotronic’s FDA-cleared Optilume paclitaxel-coated balloon was engineered in response to patient and physician dissatisfaction, the company said, with current treatments for urethral strictures and BPH. The technology provides a minimally invasive treatment option for the millions of patients suffering from the conditions.
The deal consists of upfront cash payment of $255 million, and up to an additional $345 million in potential commercial and reimbursement milestone payments.
In tandem with the acquisition, Laborie will also make a $5 million strategic investment into GIE Medical, a clinical-stage company that was spun out of Urotronic. GIE Medical is developing DCB tech to treat strictures in the gastrointestinal (GI) tract.
"There has never been a minimally invasive, combination drug-device therapy like Optilume before, leading to a highly disruptive, paradigm change for physicians treating urethral strictures and BPH," Mike Frazzette, president and CEO of Laborie told the press. "With this acquisition, we will continue to advance innovative technologies by meeting multiple unmet medical needs and in doing so provide solutions that preserve and restore human dignity."
"We are excited to announce this agreement with Laborie, and this acquisition will benefit men suffering from urethral strictures and BPH globally," added David Perry, president and CEO of Urotronic. "Backed by positive clinical data, the Optilume BPH therapy is truly groundbreaking as the only MIST option that doesn't require cutting, burning, steaming or a permanent implant. As global leaders in urology, Laborie will help drive the Optilume BPH technology forward."
Urotronic’s FDA-cleared Optilume paclitaxel-coated balloon was engineered in response to patient and physician dissatisfaction, the company said, with current treatments for urethral strictures and BPH. The technology provides a minimally invasive treatment option for the millions of patients suffering from the conditions.
