Teleflex (TFX) Acquires Semprus BioSciences for $30M + Milestones
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Teleflex Incorporated (NYSE: TFX), has acquired Semprus BioSciences (Cambridge, Massachusetts), a biomedical company and spin out from Massachusetts Institute of Technology (MIT). The acquisition includes the core Semprus Sustain™ Technology. The transaction brings to Teleflex an innovative and patented platform technology that serves as the basis for next-generation medical devices. The technology is designed to provide the benefits of reducing complications such as thrombosis and microbial adhesion over long durations.
Sustain™ is a long-lasting, covalently bonded, non-leaching polymer that is designed to reduce the attachment of platelets and blood proteins at the device surface.
Sustain™ has been shown to reduce thrombus accumulation in in vitro testing after multi-month exposure to blood and through in vivo animal testing. The technology characteristics mimic the chemical properties of endothelial cell membrane, reducing the foreign body response to an implanted device.
Under the terms of the agreement, Teleflex has acquired Semprus BioSciences for an upfront payment of $30 million. Teleflex may be required to make certain additional payments based upon the achievement of certain regulatory and revenue milestones over the next several years.
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Sustain™ is a long-lasting, covalently bonded, non-leaching polymer that is designed to reduce the attachment of platelets and blood proteins at the device surface.
Sustain™ has been shown to reduce thrombus accumulation in in vitro testing after multi-month exposure to blood and through in vivo animal testing. The technology characteristics mimic the chemical properties of endothelial cell membrane, reducing the foreign body response to an implanted device.
Under the terms of the agreement, Teleflex has acquired Semprus BioSciences for an upfront payment of $30 million. Teleflex may be required to make certain additional payments based upon the achievement of certain regulatory and revenue milestones over the next several years.
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