AngioDynamics buys Oncobionic
This article was originally published in The Gray Sheet
Executive Summary
Privately held irreversible electroporation (IRE) soft tissue ablation technology developer Oncobionic is acquired by AngioDynamics. The deal is valued at up to $25 mil. - including $5 mil. up-front and up to $20 mil. in milestone payments. Announced Oct. 17, the agreement builds on the firms' 2004 distribution and option pact for the IRE device. Trials for liver and prostate cancer are slated to begin in mid-2007, followed by a market launch in 2008. A 510(k) application is pending at FDA for use in general tissue ablation. IRE uses needles, an electrical field and image guidance to disrupt targeted cell membranes without causing thermal damage, firm says...