Biosensors International Group has acquired certain assets of CardioMind for a total consideration of $1.1 million. Headquartered in Sunnyvale, Calif., CardioMind develops stent systems to treat small coronary lesions.
CardioMind’s Sparrow stent system consists of a 0.014-inch guidewire-based stent delivery platform, according to Biosensors. The bare-metal version is CE Mark approved to treat small vessels. The drug-eluting stent version of the Sparrow stent system combines sirolimus in a biodegradable polymer matrix.
The 100-patient CARE II study, led by Alexandre Abizaid, MD, from the Institute Dante Pazzanese of Cardiology in Sao Paulo, Brazil, is currently ongoing.
Biosensors expects to incur additional costs, not expected to exceed $1 million to transfer this technology and the assets purchased to its Singapore-based research and manufacturing facility.