Advanced Catheter Therapies said today that it inked a worldwide license deal with Toray Industries for the manufacture and sale of ACT’s Occlusion Perfusion Catheter for peripheral vascular stenosis and restenosis.
Chattanooga, Tenn.-based ACT said it’s been manufacturing the OPC device for about a year for clinical trials and a test release.
“Our 1st-in-human clinical trials have been very encouraging, and we have successfully met our milestones for safety and efficacy,” CEO Paul Fitzpatrick said in prepared remarks. “We look forward to working closely with Toray to address a worldwide market for the treatment of peripheral arterial disease and targeted drug delivery estimated at about $3 billion by 2020.”
“At Toray, we are continually seeking new and innovative ways to treat the most pressing medical needs, such as arterial stenosis and restenosis,” added Shigeo Fujimori, director of TAM Ventures, Toray’s venture capital arm. “We believe the OPC is truly ‘generation-skipping’ and offers innovative features that overcome the limitations of current technologies to offer a substantial patient benefit.”
The OPC is a multi-lumen balloon catheter designed to occlude vessels for the local delivery of therapeutic agents. ACT said the device is available for licensing for other indications, including coronary stenosis and restenosis, cancer, dialysis, venous insufficiency and lytic therapy.