Biosensors International has acquired assets of Devax, including the Axxess drug-eluting stent (DES) system, for a total cost consideration of $5.7 million.
The Axxess DES system is indicated for the treatment of complex types of coronary artery disease (CAD), such as those where coronary bifurcation lesions occur between two vessels, which occurs in an estimated 15 percent to 25 percent of the patients undergoing PCI.
Biosensors said that the cost consideration of $5.7 million is from an existing cash resource and internally-generated funds. The acquisition will not have a material impact on the consolidated earnings per share or net tangible assets of the company’s financial year, ending March 31.
The Axxess DES system is a nitinol stent that is coated with Biolimus A9, a polymer licensed from Biosensors and used in Biosensors BioMatrix DES portfolio. The Axxess DES received CE mark in August 2010 after results of the DIVERGE trial, which studied the safety and efficacy of the device to treat coronary bifurcation lesions, showed low rates of major adverse cardiovascular events (MACE) and stent thrombosis.