Uptake Medical said yesterday that its InterVapor device for treating emphysema is back on the market in Europe after its acquisition for an undisclosed amount by an affiliate of Broncus Medical.
Broncus set its purchase up under a new entity based in Seattle, Uptake Medical Technology, and plans to add markets in Australia and Asia to its commercial footprint in Europe by the end of the year. The InterVapor device uses heated water vapor to reduce lung volume in emphysema patients. Uptake won an expanded CE Mark in the European Union for InterVapor in August 2015.
“2018 promises to be an exciting year for the new Uptake Medical,” founder & president Robert Barry said in prepared remarks. “With the recent outstanding Step-up multi-center randomized controlled trial results and the backing of Broncus, we are posed for success. In addition, we have very exciting bronchoscopic lung cancer ablation clinical studies underway. When you combine San Jose, Calif.-based Broncus Medical’s Archimedes system for accessing and diagnosing lung disease with [bronchial thermal vapor ablation] you start to see our vision of a complete interventional pulmonology company come to life.”
“We also have plans to continue our research of BTVA for emphysema patients and expand the scope of patients that qualify. We are also continuing clinical research and development of our adaptation of the technology for the ablation of several other lung diseases,” added R&D VP Erik Henne.
“I am happy to finally have a solution for emphysema patients with positive collateral ventilation. Previously these patients did not have good options with proven benefit,” said principal investigator Dr. Felix Herth, of Germany’s Heidelberg University. “I especially like the ability to focus just on the most diseased segments and stage the procedure as I see best for the patient. I am also looking forward to continued work with Broncus/Uptake Medical on developing a quick and effective bronchoscopic treatment for lung cancer.”
LifeTech Scientific (HK:8122), which is backed by Medtronic (NYSE:MDT), formed Broncus Medical with a Chinese venture capital shop and a Hong Kong-based private equity fund in September 2012.