Boston Scientific and CryoVascular Systems have signed a series of agreements. Natick, MA-based Boston Scientific will take an equity investment in CryoVascular Systems and will gain exclusive global distribution rights, as well as an option to acquire the company at a future time.
Los Gatos, CA-based CryoVascular has received Food and Drug Administration clearance and the CE Mark for PolarCath, an angioplasty device that treats atherosclerotic disease of the legs and other peripheral arteries. The peripheral dilatation system utilizes liquid nitrous oxide for freezing of the diseased artery during balloon angioplasty, according to Boston Scientific.
Terms of the deals were not disclosed. Boston Scientific said it expects to launch U.S. sales of PolarCath in the fourth quarter.
By AuntMinnie.com staff writersSeptember 11, 2003
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