Boston Scientific Adds 'Novel' Technology Via This Acquisition For Interventional Oncology

• Boston Scientific Corporation (NYSE: BSX) has acquired privately-held Obsidio Inc that developed the Gel Embolic Material (GEM) technology to embolize blood vessels in the peripheral vasculature.

• Deal terms were not disclosed.

• Embolization is a minimally invasive procedure intended to obstruct or reduce blood flow to an abnormality or tumor to stop hemorrhaging, reduce the size of malignant and benign tumors, and stabilize venous and arterial malformations.

• Recently cleared by the FDA, the GEM technology is a semi-solid, proprietary material packaged in a ready-to-use form, thus reducing the preparation time required for many embolization procedures.

• Physicians deliver the GEM agent through a catheter, and its gel-like composition enables controlled placement within patient anatomy. Unlike solid and liquid embolic that can take time to form an obstruction to blood flow, once placed, the GEM technology conforms to the targeted vasculature, immediately creating a barrier.

• Price Action: BSX shares are down 0.08% at $42.30 during the market session on the last check Monday.

See more from Benzinga

• ContraFect Cuts Workforce After Trial Setback

• FDA Clears Organogenesis' Next Generation PuraPly Surgical Solution

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.