Entellus said earlier this month that it signed a distribution agreement with Fiagon NA Corp. to purchase and resell Fiagon’s surgical navigation systems, components and parts in the U.S. and its territories.
The agreement will make Entellus the exclusive distributor of certain Fiagon systems and parts to ear, nose and throat physicians offices, clinics and surgery centers, but excludes hospitals, according to an SEC filing. Entellus will also gain distribution rights for Fiagon’s guidewires attached or sold with Entellus’ balloon products when sold to hospitals.
The distribution deal is set to expire at the end of June 2020, but will renew automatically every 2 years unless either company withdraws from the deal, according to an SEC filing.
In January, Entellus raised roughly $78 million in its initial public offering, floating 5.2 million shares at $17 per share under the symbol ‘ENTL’.
Entellus, founded in 2006, makes a family of minimally invasive balloon device products under the XprESS name that are designed to treat blocked sinuses. Chairman & CEO Brian Farley has been in the corner office since March 2010, according to the filing, and previously ran VNUS Medical Technologies, which Covidien, now part of Medtronic (NYSE:MDT), snatched up in 2009.