Cordis Acquires MedAlliance for up to $1.135B

Cordis has completed the acquisition of MedAlliance, a Switzerland-based developer of drug-eluting balloon technology, for a total consideration of up to $1.135 billion, adding a key growth driver to its coronary and peripheral vascular portfolios as SELUTION SLR™ (Sustained Limus Release) Drug-Eluting Balloons (DEB) are expected to be the first Sirolimus DEB to be launched in key geographies.

The SELUTION SLR™ DEB technology is designed to balance both safety and efficacy through the use of MicroReservoirs made from biodegradable polymers intermixed with the anti-proliferative drug Sirolimus. The MicroReservoirs control the sustained release of the drug and is designed to provide the longest and most effective pharmacokinetic release profile of any device on the market. SELUTION SLR™ DEB has demonstrated early efficacy across studies in both the coronary and peripheral vasculature and is now being studied in 4 FDA IDE trials to gain US market access.

SELUTION SLR received CE Mark approval in February 2020 for the treatment of peripheral artery disease and in May 2020 for the treatment of coronary artery disease. MedAlliance was the first drug-eluting balloon company to receive FDA Breakthrough Designation status. In addition to the BTK and superficial femoral artery (SFA) indications for which the company received FDA IDE approval in May and August 2022 respectively, MedAlliance received coronary in-stent restenosis (ISR) IDE approval in October 2022 and de novo coronary artery lesions approval in January 2023.

The SELUTION SLR is commercially available in Europe, Asia, the Middle East, the Americas (excluding the US) and most other countries where the CE Mark is recognised. More than 40,000 devices have been used to treat patients in routine clinical practice or in coronary clinical trials.

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