Boston Scientific Acquires Embolization Gel Developer Obsidio, Inc.
Boston Scientific announced on August 15, 2022, that it acquired Obsidio, Inc. for an undisclosed fee. Obsidio has technology called the Gel Embolic Material (GEM™), which is used in minimally invasive blood vessel embolization. According to its press release, Boston Scientific intends to expand its interventional oncology and embolization portfolios.
An embolization treatment procedure uses a material to obstruct or reduce blood flow through a blood vessel. The treatment may be used to stop hemorrhaging, to stabilize blood vessel malformations, or to reduce blood flow to tumors, which are often highly vascularized.
Founded in 2019, Obsidio initially sought to commercialize technology relating to NIH-funded research on hemorrhage control and aneurysm treatment. Obsidio subsequently obtained FDA approval for GEM™ on July 1, 2022, claiming equivalence to Biosphere Medical’s EmboCube™ Embolization Gelatin. According to Obsidio, GEM™ is a semi-solid made up of bioresorbable gelatin, layered silicate, and tantalum powder. The material is delivered to a target vessel via catheter. As a semi-solid, the material is supposed to conform to the shape of the target vessel. Additionally, GEM™ is supposed to be shipped in a ready-to-use form, which, according to Boston Scientific, may save some preparation time relative to other embolization materials.
Boston Scientific is a multinational biomedical engineering company. In 2021, Boston Scientific spent over $4 billion across five acquisitions. Obsidio is the second of Boston Scientific’s acquisitions in 2022, the other being a $230 million deal for Synergy Innovation’s majority stake in M.I.Tech, a developer of a conformable, self-expanding metal stent called HANAROSTENT®.
Penumbra Files for $115 million IPO
Alameda, California-based medical device company Penumbra, Inc. registered with the Securities and Exchange Commission (SEC) last Friday for an initial public offering (IPO) to raise up to $115 million. The company will be traded under the symbol PEN on the New York Stock Exchange (NYSE).
According to its S-1 filing, Penumbra develops, manufactures, and markets medical devices focused on interventional therapies. Founded in 2004, the company’s primary focus has been on neurovascular devices, although it recently entered the peripheral vascular market, and focuses on thrombectomy and embolization technology. According to press releases, Penumbra’s Ace64 aspiration thrombectomy device, reportedly the largest-lumen thrombectomy device on the market, won 510(k) clearance from the FDA last May.
The S-1 disclosed that Penumbra reported sales of $125.5 million in 2014, an increase of 41.3% from 2013, and also that Penumbra maintains a portfolio of 18 global patents, of which seven are U.S. patents. The S-1 also stated that Penumbra owns 31 pending worldwide patent applications.
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