Medical Instruments & Supplies M&A » By The Online Investor Staff, updated Wed., Apr. 24, 10:15 PM
Recent mergers and acquisitions in the Medical Instruments & Supplies M&A category.
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Slide #81. Thoratec Corporation — DuraHeart II Ventricular Assist System
Acquirer:
Thoratec Corporation (THOR)
Acquiree:
DuraHeart II Ventricular Assist System
Details:
Thoratec Corporation (NASDAQ: THOR), a world leader in device-based mechanical circulatory support therapies to save, support and restore failing hearts, said today it has acquired the DuraHeart II ("DH-II") ventricular assist system from Terumo Corporation (TSE: 4543 Section 1) for an upfront cash payment of $13 million and potential future milestone payments, based on regulatory approvals and product sales, of up to $43.5 million. As part of the agreement, a team of Terumo employees will transition to Thoratec and will continue to be based in Ann Arbor, Michigan. Additionally, Thoratec and Terumo have entered into a distribution partnership, in which Terumo will commercialize DH-II in Japan and potentially other parts of Asia.
Synthorxis is a biopharmaceutical company. Co.'s platform technology expands the genetic code by adding a DNA base pair and is designed to create optimized biologics, which it refers to as Synthorins. Co.'s main product candidate, THOR-707, is a variant of innate lymphoid (IL)-2 designed to kill tumor cells by increasing CD8+ T and natural killer cells without causing vascular leak syndrome observed with approved recombinant IL-2 (aldesleukin). Co.'s second IL-2 program is focused on autoimmune disorders based on the observation that low doses of IL-2 can dampen immune cell activation through selective proliferation of CD4+ regulatory T cells. Co. is developing an IL-2 autoimmune Synthorin.
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