Newton, Mass.-based endoscopic startup Beacon Endoscopic signed a strategic partnership in order distribute its 2nd product internationally through Fujifilm Holdings (TSE:4901), the companies announced.
Fujifilm will begin distributing Beacon’s endoscopic ultrasound devices in in China, Europe and the Asia Pacific region. The companies will further investigate opportunities to co-develop endoscopic technologies, according to the press release.
Beacon hopes to drive growth for its Beacon Needle eXchange System, a novel fine needle aspiration system used in endoscopic ultrasound and endoscopic bronchial ultrasound procedures. The company won 510(k) clearance from the FDA back in 2010 and closed landed a $5 million Series B financing round in 2011.
"Our relationship with Fujifilm will provide physicians worldwide the opportunity to experience the distinctive features of the BNX System," Beacon Endoscopic co-founder Brian Tinkham said in prepared remarks. "We anticipate broad acceptance of the technology due to several of our unique features: procedural efficiency, improved clinical safety and cost-effectiveness."
The global gastroenterology device business is estimated at over $3 billion, and endoscopic ultrasound is poised to become one of the fastest growing segments of endoscopy, the company said.