Trendlines Group said it closed the acquisition of intellectual property it and Endo developed to diagnose and treat prostate cancer.
The companies’ agreement calls for Trendlines to commercialize technology in the pain management, urology, oncology and pelvic health spaces and then share any revenue with Endo, according to a press release.
"Working closely with Endo, we developed technologies for prostate cancer diagnosis and trans-urethral prostatectomy that are now ready for commercialization. These technological solutions will make a real difference to those who suffer from prostate cancer and [benign prostate hyperplasia]," Trendlines Labs CEO Yosi Hazan said in prepared remarks.
"Our work with Endo furthers our market reach and is fundamental to our mission — creating and developing companies to improve the human condition," added Trendlines chairman & CEO Todd Dollinger.
Trendlines has incubated a series of medical device companies, including MediValve (which won 510(k) clearance from the FDA and CE Mark approval in the European Union for its acWire device this year); InnoLap, acquired by Teleflex for an unspecified amount last year; and FlowSense, acquired for $9.5 million by Baxter (NYSE:BAX) in September 2013.