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Device Maker Teleflex Acquires Biomedical Materials Company

Blood test (NIH)

(National Institutes of Health)

Teleflex Inc., a medical device provider in Limerick, Pennsylvania, has acquired Semprus BioSciences in Cambridge, Massachusetts, a developer of coatings for medical implants. The deal has an immediate value of $30 million.

Teleflex is a manufacturer of medical devices for vascular access, including catheters and dialysis access products. The company also develops devices for regional and general anesthesia, respiratory care products, surgical products, bladder management and urology applications, and cardiac care products. Teleflex employs some 12,800 workers worldwide.

Semprus BioSciences is a spin-off from the Robert Langer lab at Massachusetts Institute of Technology that researches biotechnology and materials science. The company’s technology, called Semprus Sustain, offers coatings for medical devices that reduce complications for patients. The technology involves a non-leaching polymer designed to reduce the attachment of platelets and blood proteins on the device surface.

Semprus BioSciences says lab tests, including those with animals, show Sustain reduces accumulation of blood clots after exposure to blood over multiple months. The technology’s properties also mimic the chemistry of endothelial cell membrane on the interior surface of blood vessels, potentially reducing the foreign body response to an implanted device. The company says the coating can be adapted to common device materials, including polyurethane, silicone, and titanium.

The first application of the Semprus technology is in vascular devices, and the company has a catheter coated with Sustain awaiting premarket notification clearance from the Food and Drug Administration, as well as CE Mark approval in Europe. Under the agreement, Teleflex will provide an upfront payment to Semprus BioSciences of $30 million, as well as additional revenue and regulatory milestone payments.

Hat tip: Fortune/Term Sheet

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