Cordis, one of the world’s top manufacturers of interventional cardiovascular technologies, acquired MedAlliance in a US $1.1 billion deal. From the onset, it emphasized treating peripheral and coronary diseases. According to Cordis, it can serve two million patients with this ground-breaking drug by 2027.
The Acquisition Agreement Between Cordis and MedAlliance
In a total transition of up to $1.135 billion, MedAlliance will receive an upfront payment of $235 million in 2023. The agreement includes regulatory achievement milestones up to $125 million and commercial milestones up to $775 million through 2029.
To support Cordis’ mission of delivering innovative solutions to patients, MedAlliance plans to undertake a crucial clinical study program that will aid Cordis’ customers. More than 500 patients from a total of 3,326 planned have already signed up for the coronary randomized controlled study.
SELUTION SLR Drug Technology—A Glimpse
SELUTION SLR is the new-generation drug-eluting balloon technology formulated to deliver the safety and efficacy of sirolimus with modern MicroReservoir. It includes a biodegradable polymer that offers controlled drug release for up to 90 days. These MircoReservoirs are overlayed onto balloons using MedAlliance proprietary CAT (Cell Adherent Technology) and stick to the vessel lumen. They provide sustained therapeutic effects in both coronary and peripheral conditions.
The US Food and Drug Administration has accorded SELUTION SLR four breakthrough designations:
- for atherosclerotic lesions in native coronary arteries;
- coronary stenosis in stents;
- peripheral below-the-knee;
- and arteriovenous fistulas in hemodialysis patients.
IDE clinical studies for coronary, BTK, and SFA indications are enrolling with FDA approval.
Breakthrough SELUTION SLR—Safety & Efficacy
SELUTION SLR gained its CE Mark Approval for the treatment of peripheral artery condition in February 2020 and the treatment of coronary artery disease in May 2020. This innovative technology with sustained limus release replaces permanent metal implants with PCI stent-less ones, giving the same protection and performance. It is available in European and other countries with CE Mark. To learn more www.medalliance.com .
About MedAlliance
MedAlliance is a Switzerland-based medical technology company headquartered in Nyon. The company got founded in 2008. From the beginning, it is focused on developing unique solutions and innovative drugs to cure life-threatening diseases. MedAlliance was granted breakthrough status for SELUTION SLR in treating coronary and peripheral artery diseases.
About Cordis
Cordis has built a robust global foothold through pioneering breakthrough technologies and interventions. With more than 60 years of experience, it specializes in the development of innovations for curing cardiovascular and endovascular conditions. Its mission is to save the lives of millions through clinical acumen, modern tools, training, investments, and services. Cordis aims to address the upcoming cardiovascular challenges by increasing production and distribution capabilities. MedAlliance’s SELUTION SLR will further assist Cordis’ goals.
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