4-traders reports that Pleasanton, California-based Thoratec Corporation has acquired the DuraHeart II ventricular assist system from Tokyo-based Terumo Corporation for up to $43.5M. The deal has been structured such that Thoratec will pay $13M in cash, upfront, which will be followed by milestone payments contingent upon regulatory approvals and product sales.
According to its website, Thoratec Corporation is the world leader in mechanical circulatory support with the broadest product portfolio to treat the full range of clinical needs for patients suffering from advanced heart failure. Thoratec’s products include the HeartMate LVAS and Thoratec VAD. According to Terumo’s website, Terumo Corporation is a leading medical device manufacturer which develops, manufactures, and distributes world-class medical devices including products for use in cardiothoracic surgery, interventional procedures, and transfusion medicine.
In Terumo’s press release, Yutaro Shintaku, President and Representative Director of Terumo Corporation stated:
Terumo believes that the transfer of the development of DuraHeart II to Thoratec is the best and fastest way to commercialize the technology and to ensure access for patients in Japan, the U.S., and the rest of the world. We are pleased that Thoratec recognizes the value of the DuraHeart II platform and will be applying its expertise and resources to develop and bring this exciting product to market.