News | Patient Positioning Radiation Therapy | September 07, 2018

Boston Scientific to Acquire Augmenix Inc.

Acquisition expands portfolio of men's health in-office procedures with SpaceOAR adjunctive therapy for prostate cancer patients

Boston Scientific to Acquire Augmenix Inc.

September 7, 2018 — Boston Scientific has entered into a definitive agreement to acquire Augmenix Inc., a privately-held company which has developed and commercialized the SpaceOAR System to reduce common and debilitating side effects that men may experience after receiving prostate cancer radiotherapy. The transaction consists of an upfront cash payment of $500 million, and up to $100 million for reaching sales-based milestones.

Each year, more than 1.1 million men are diagnosed with prostate cancer worldwide and approximately 400,000 men will undergo prostate radiotherapy.1,2 One of the most common complications of treatment is rectal radiation injury, due to the rectum's proximity to the prostate and the resulting high doses of inadvertent radiation exposure. Prior to radiation therapy, the SpaceOAR hydrogel is injected to create additional space between the rectum and prostate during treatment, thereby reducing rectal radiation dose and associated side effects.

The SpaceOAR hydrogel is CE Marked, cleared by the U.S. Food and Drug Administration (FDA) and has been used in more than 30,000 patients worldwide. As a result of commercial adoption, expanded U.S. reimbursement and a total addressable market valued at $750 million, product sales are estimated to reach $50 million in 2018 and approach $90 million in 2019.

Clinical trials in Europe and the U.S. have demonstrated that the space created by the hydrogel significantly reduces the amount of radiation delivered to the rectum. Additionally, the randomized SpaceOAR hydrogel U.S. clinical trial demonstrated that patients who received the hydrogel spacer reported significantly less rectal pain during prostate radiotherapy. They also had significantly less severe long-term rectal complications, including zero incidence of grade 2 rectal toxicity versus a 5.7 percent rate experienced by patients without the spacer.

A single injection of the SpaceOAR hydrogel is designed to maintain the space between the rectum and prostate for three months – within the duration of a standard radiation treatment schedule. The absorbable hydrogel is gradually reabsorbed by the body within six months of injection.

The transaction is expected to be immaterial to adjusted earnings per share in 2018 and 2019, accretive in 2020 and increasingly accretive thereafter. On a GAAP basis, the transaction is expected to be less accretive, or more dilutive as the case may be, due to amortization expense and acquisition-related net charges. The acquisition is projected to close early in the fourth quarter of 2018, subject to customary closing conditions.

Augmenix, founded in 2008 based on technology from Incept LLC, is based in Bedford, Mass., and has approximately 140 employees.

For more information: www.bostonscientific.com, www.augmenix.com

References

1. Ferlay JSI, et al.GLOBOCAN 2012: Estimated cancer incidence and mortality worldwide in 2012 v1.0. International Agency for Research on Cancer, World Health Organization. Cancer Base No. 11; 2013.

2. Data on file. Boston Scientific. August 2018.  

Related Content

Turkish Hospital Begins MR-Guided Radiation Therapy With Viewray MRIdian Linac
News | Image Guided Radiation Therapy (IGRT) | September 21, 2018
ViewRay Inc. announced that Acibadem Maslak Hospital in Istanbul, Turkey has begun treating patients with ViewRay's...
Exact Imaging Partners to Improve Prostate Cancer Detection With Artificial Intelligence
News | Prostate Cancer | September 19, 2018
Exact Imaging, makers of the ExactVu micro-ultrasound platform, has partnered with U.K.-based Cambridge Consultants to...
Amar Kishan, M.D.

Amar Kishan, M.D.

News | Prostate Cancer | September 11, 2018
UCLA researchers have discovered that a combination of high doses of...
Videos | Radiation Therapy | September 07, 2018
A discussion with Ehsan Samei, Ph.D., DABR, FAAPM, FSPIE, director of the Duke University Clinical Imaging Physics Gr

Image courtesy of IBA

Feature | Radiation Oncology | September 07, 2018 | By Jeff Zagoudis
According to the latest statistics from the American Cancer Society (ACS), almost 165,000 new cases of prostate cancer...
Non-Canonical Strategy May Improve Cancer Radiotherapy
News | Radiation Therapy | August 29, 2018
August 29, 2018 — Although the success or failure of...
Videos | Treatment Planning | August 28, 2018
A discussion with...
Sponsored Content | Webinar | Radiation Therapy | August 28, 2018
Respiratory tumor motion often complicates the delivery of precision radiation treatment.
Tsuyama Chuo Proton Beam Center Treats First Patients With RayStation
News | Treatment Planning | August 27, 2018
Tsuyama Chuo Hospital in Okayama Prefecture, southwest Japan, has commenced clinical use of RayStation to plan pencil...
Radiation Therapy Affects Event Recall for Children With Brain Tumors
News | Radiation Therapy | August 24, 2018
Children with certain types of brain tumors who undergo radiation treatment are less likely to recall the specifics of...