Boston Scientific Acquires Labcoat Limited
NATICK, Mass., Jan. 6 /PRNewswire-FirstCall/ -- Boston Scientific Corporation (NYSE: BSX) today announced that it has acquired Labcoat Limited, a privately held, development-stage drug-eluting stent technology company located in Galway, Ireland. Terms of the acquisition were not disclosed.
Labcoat has developed a novel technology for coating drug-eluting stents that uses precisely metered droplets of a biodegradable polymer and drug formulation to create a thin (< 1 micron) coating confined to the outer surface of a coronary stent. This proprietary technology is designed to significantly reduce the amount of polymer and drug to which the vessel wall is exposed, while minimizing polymer and drug on the inner surface of the stent where endothelial cell growth is required for healing. Once the drug has been delivered, the biodegradable coating resorbs, leaving behind only the bare-metal stent. This approach is intended to provide the same degree of restenosis reduction as a conventional drug-eluting stent, but faster and more complete vessel healing after stent implantation.
"Boston Scientific has enjoyed an ongoing, productive relationship with Labcoat, and we look forward to building on our shared commitment to developing new drug-eluting stent technologies that improve patient outcomes," said Jim Tobin, President and Chief Executive Officer of Boston Scientific. "This technology represents a major advance for drug-eluting stents and should help us maintain our strong position in this market."
Labcoat has successfully completed a clinical trial with its JACTAX(TM) Stent, which consists of a Boston Scientific bare-metal Liberte(R) Stent coated on its outer surface with a biodegradable polymer containing the drug paclitaxel. Clinical data presented at TCT 2008 showed promising results for both restenosis and strut coverage nine months after implantation. These data will be used to support CE Mark submission, which is expected to occur in the first half of this year. European launch of a new drug-eluting stent incorporating this technology is planned following regulatory approval.
Boston Scientific plans to evaluate the Labcoat technology for use on both its paclitaxel and everolimus families of drug-eluting stents.
Paclitaxel is employed on the TAXUS(R) family of stents, which have been studied in thousands of patients in clinical trials and implanted in approximately four million patients worldwide.
About Boston Scientific Corporation
Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: www.bostonscientific.com.
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CONTACTS: Paul Donovan 508-650-8541 (office) 508-667-5165 (mobile) Media Relations Boston Scientific Corporation Larry Neumann 508-650-8696 (office) Investor Relations Boston Scientific Corporation
SOURCE Boston Scientific Corporation
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