Terumo, a medical device company based in Tokyo, Japan, will acquire Sequent Medical for $280 million, with up to $100 million more to be paid based on achievement of specific development objectives.
Sequent Medical, based in Aliso Viejo, Calif., was founded in 2007. The company developed its Microbraid technology — a dense mesh constructed from extremely fine wire — to create the WEB aneurysm embolization system to treat ruptured and unrupted aneurysms.
Terumo entered the neurovascular device market in 2006 when it acquired Tustin, Calif.-based MicroVention. While Terumo has a diverse product portfolio covering most segments in the neurovascular market, the acquisition of Sequent Medical will further improve its presence in the market. Terumo plans to bring the WEB system to the U.S., where it is not yet available for sale or distribution.
The Food and Drug Administration will evaluate data from an upcoming clinical trial of the WEB system to determine its safety and effectiveness.
The deal is expected to be finalized in July or August, pending regulatory approval.
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