No Result
View All Result
  • Private Data
  • Membership options
  • Login
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHubHOT
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Subscribe
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHubHOT
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Home COUNTRY DACH

MedAlliance Acquired by Cordis for up to USD 1.135 Billion

Cisionby Cision
October 2, 2023
Reading Time: 4 mins read
in DACH, PRIVATE EQUITY
Share on FacebookShare on Twitter

GENEVA, Switzerland, Oct. 2, 2023 /PRNewswire/ — Swiss-based medical technology company MedAlliance has been acquired by Cordis for a 2022 investment of $35M and a 2023 upfront closing payment of $200M, together with regulatory achievement milestones of up to $125M and commercial milestones of up to $775M through 2029, for a total consideration of up to $1.135 Billion. 

 MedAlliance Acquired by Cordis for up to USD 1.135 Billion

Cordis is a worldwide leader in the development and manufacture of interventional cardiovascular and endovascular technologies.  MedAlliance’s innovative and revolutionary sustained sirolimus drug-eluting balloon (DEB) program, SELUTION SLR™ (Sustained Limus Release), has provided a flagship product family which complements Cordis’ existing product portfolio, together with their sales, marketing and distribution expertise.  Cordis customers will benefit from the extensive clinical study program and publication plan that have been executed by MedAlliance to further Cordis’ heritage of bringing innovative products to patients.

“The Cordis acquisition will accelerate access to this breakthrough technology for patients around the globe suffering from coronary and peripheral disease,” said Jeffrey B. Jump, Founder, Chairman and CEO of MedAlliance.  “I want to thank our entire MedAlliance team – including physicians, distributors and clinical patients – who have succeeded in disrupting the coronary and peripheral markets to provide a safe and effective new technology.  The arsenal of SELUTION SLR DEB clinical data is designed to change medical practice and improve patient outcomes.”

“Nearly twenty years ago, Cordis introduced CYPHER®, the first drug-eluting stent, transforming cardiovascular treatment for patients around the world,” said Shar Matin, Cordis CEO. “As a newly independent company, we are beyond proud to further our legacy of innovation and market disruption with MedAlliance and the first MicroReservoir sirolimus drug-eluting balloon, SELUTION SLR.”

“We are excited to report on the positive SELUTION SLR data to date, with first-hand experience of the impressive clinical outcomes from patients treated with SELUTION SLR in Japan, India, Europe, and South America. We are now leading the effort to emulate these results in the United States. This technology has the distinct opportunity to change the treatment paradigm for patients suffering from cardiovascular and peripheral vascular disease,” commented George Adams, Steering Committee member of both the US SELUTION4SFA and SELUTION4BTK IDE studies; Director, Cardiovascular and Peripheral Vascular Research, Rex Hospital Inc., Raleigh, North Carolina, United States.

SELUTION SLR was awarded CE Mark Approval for the treatment of peripheral artery disease in February 2020 and for the treatment of coronary artery disease in May 2020. MedAlliance was the first drug-eluting balloon company to receive FDA Breakthrough Designation status.  In addition to the BTK and superficial femoral artery (SFA) indications for which the company received FDA IDE approval in May and August 2022 respectively, MedAlliance received coronary in-stent restenosis (ISR) IDE approval in October 2022 and de novo coronary artery lesions approval in January  2023. 

Subsequent to achieving IDE Status, three FDA studies involving SELUTION SLR are currently enrolling with a fourth, involving patients with coronary de novo artery disease, planned to start in the next few weeks. The latter will complement the substantial experience gained with the ground-breaking SELUTION DeNovo trial in Europe, which has now enrolled over 1,700 patients, half way towards a planned 3,326 patients. SELUTION DeNovo compares the treatment strategy using SELUTION SLR versus any limus drug-eluting stent [DES] [ClinicalTrials.gov Identifier: NCT04859985]. This study is designed to change medical practice, as the majority of de novo coronary lesions are currently treated with a permanent metallic stent.

MedAlliance’s unique DEB technology involves MicroReservoirs which contain a mixture of biodegradable polymer intermixed with the anti-restenotic drug sirolimus applied as a coating on the surface of an angioplasty balloon. These MicroReservoirs provide controlled and sustained release of the drug for up to 90 days. MedAlliance’s proprietary CAT™ (Cell Adherent Technology) enables the MicroReservoirs to be coated onto balloons and efficiently transferred to adhere to the vessel lumen when delivered via expansion of the balloon.

SELUTION SLR is commercially available in Europe, Asia, the Middle East, and the Americas (outside USA) and most other countries where the CE Mark is recognized. Over 40,000 units have been used for patient treatments in routine clinical practice or as part of coronary clinical trials. 

About Cordis

Cordis is a worldwide leader in the development and manufacturing of interventional cardiovascular technologies with a more than 60-year history of pioneering breakthrough therapies to treat millions of patients. With a reputation for clinical acumen, training, and service, 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.

Media Contact:
Richard Kenyon
rkenyon@medalliance.com
+44 7831 569940 

Photo: https://mma.prnewswire.com/media/2236013/MedAlliance.jpg
Logo: https://mma.prnewswire.com/media/1196864/4316239/MedAlliance_Logo.jpg

 

Cision View original content:https://www.prnewswire.co.uk/news-releases/medalliance-acquired-by-cordis-for-up-to-usd-1-135-billion-301944190.html

Read the orginal article: undefined

Gateways to Italy

Gateways to Italy – Offer your services to funds and investors willing to explore opportunities in Italy. Become a partner!

Gateways to Italy – Offer your services to funds and investors willing to explore opportunities in Italy. Become a partner!

by Partner
June 6, 2023

Sign up to our newsletter

SIGN UP

Related Posts

FRANCE

SFR and Bouygues Telecom put French tower JV up for sale – report

May 21, 2025
DACH

German scale-up Flip secures €24.7 million to expand new AI-powered capabilities for deskless workers

May 21, 2025
DACH

Swiss HealthTech company ReproNovo raises €57 million to tackle declining fertility rates

May 21, 2025

ItaHub

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

November 4, 2024
Italy’s SMEs export toward 260 bn euros in 2025

Italy’s SMEs export toward 260 bn euros in 2025

September 9, 2024
With two months to go before the NPL Directive, in Italy the securitization rebus is still to be unraveled

With two months to go before the NPL Directive, in Italy the securitization rebus is still to be unraveled

April 23, 2024
EU’s AI Act, like previous rules on technology,  looks more defensive than investment-oriented

EU’s AI Act, like previous rules on technology, looks more defensive than investment-oriented

January 9, 2024

Co-sponsor

Premium

Funds vying for management consulting firm BIP, a CVC portfolio company. All deals in the sector

Funds vying for management consulting firm BIP, a CVC portfolio company. All deals in the sector

March 6, 2025
Private equity, Italy 2024 closes with 588 deals as for investments and divestments from 549 in 2023. Here is the new BeBeez’s report

Private equity, Italy 2024 closes with 588 deals as for investments and divestments from 549 in 2023. Here is the new BeBeez’s report

February 10, 2025
Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

November 4, 2024
Venture capital investments top €1.3bn in 208 rounds as of Sep30  in Italy. They were €1.5 in all 2023. The new BeBeez Report

Venture capital investments top €1.3bn in 208 rounds as of Sep30 in Italy. They were €1.5 in all 2023. The new BeBeez Report

October 28, 2024
Next Post

SLB, Aker Solutions and Subsea7 Announce Closing of OneSubsea Joint Venture

SLB, Aker Solutions and Subsea7 Announce Closing of OneSubsea Joint Venture

EdiBeez srl

C.so Italia 22 - 20122 - Milano
C.F. | P.IVA 09375120962
Aut. Trib. Milano n. 102
del 3 aprile 2013

COUNTRY

Italy
Iberia
France
UK&Ireland
Benelux
DACH
Scandinavia&Baltics

CATEGORY

Private Equity
Venture Capital
Private Debt
Distressed Assets
Real Estate
Fintech
Green

PREMIUM

ItaHUB
Legal
Tax
Trend
Report
Insight view

WHO WE ARE

About Us
Media Partnerships
Contact

INFORMATION

Privacy Policy
Terms&Conditions
Cookie Police

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHub
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Subscribe
  • Login
  • Cart