News | Patient Positioning Radiation Therapy | September 07, 2018

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

News | Prostate Cancer

September 22, 2023 — According to an accepted manuscript published in the American Journal of Roentgenology (AJR) ...

Time September 22, 2023
arrow
Feature | Radiation Oncology

The radiation oncology community lost a leader this past summer, with the passing of Jay Loeffler, MD, FACR, FASTRO. He ...

Time September 21, 2023
arrow
Feature | Proton Therapy | By Christine Book

An overview of significant developments in proton therapy, over just the past six months, reinforces the pace of ...

Time September 21, 2023
arrow
News | Radiation Therapy

September 20, 2023 — RefleXion Medical, Inc., a therapeutic oncology company and 3B Pharmaceuticals (3BP) GmbH, a ...

Time September 20, 2023
arrow
News | Radiation Oncology

September 13, 2023 — Intensity-modulated radiation therapy (IMRT) should be the preferred choice when treating patients ...

Time September 13, 2023
arrow
News | Radiation Oncology

September 12, 2023 — Michael J. Zelefsky, MD, a renowned leader in radiation oncology, is joining NYU Langone’s ...

Time September 12, 2023
arrow
News | Radiation Oncology

September 6, 2023 — Nina D’Abreo, MD, has been named as chief of the Division of Hematology and Medical Oncology at NYU ...

Time September 06, 2023
arrow
News | Radiation Oncology

August 30, 2023 — Elekta and the IAEA have signed a partnership agreement to jointly pursue common interests, including ...

Time August 30, 2023
arrow
News | Radiopharmaceuticals and Tracers

August 28, 2023 — TerraPower Isotopes and PanTera, the Belgian joint venture created by SCK CEN and IBA, announced that ...

Time August 28, 2023
arrow
News | Digital Pathology

August 21, 2023 — Paige, a global leader in end-to-end digital pathology solutions and clinical AI applications that ...

Time August 21, 2023
arrow
Subscribe Now