QT Vascular said today that it’s in discussions to sell its coronary assets, apart from the Chocolate PTA device it’s already looking to deal to Medtronic (NYSE:MDT).
Earlier this month, QT Vascular said Medtronic agreed to pay $28 million for an option on the Chocolate PTA non-drug-coated balloon for treating peripheral vascular disease, after inking a 5-year deal in February calling for Medtronic to distribute the Chocolate PTA device.
Today the Singapore-based company said it’s “currently engaging interested 3rd parties in negotiations for possible transaction(s) involving its coronary product(s).”
The potential deal or deals don’t conflict with or involve Chocolate PTA, QT Vascular said.
QT Vascular has said it still plans to develop a drug-coated version of the device called Chocolate Touch, which is the subject of a pivotal trial after winning an investigational device exemption from the FDA last year.
The option on Chocolate PTA is due for a shareholders vote at an extraordinary general meeting June 2, QT Vascular said today.
In March the company signed a private placement deal with Gem Global Yield Fund for up to $14.3 million (SGD $20 million) over the next 30 months.
