Boston Scientific buys 34% stake in MiRus for $1.5bn

(Sharecast News) - Boston Scientific said on Monday that it has invested $1.5bn in privately-held MiRus in exchange for a 34% stake, with an exclusive option to buy the company's novel balloon-expandable aortic valve business. MiRus is developing and commercialising proprietary biomaterials, implants and procedural solutions for the treatment of cardiovascular and orthopaedic diseases, including the SIEGEL Balloon Expandable Transcatheter Aortic Valve Replacement (TAVR) system.

As part of the agreement, Boston Scientific has an exclusive option to buy the TAVR system business, subject to additional payments and the completion of certain milestones.

The SIEGEL technology is built on a proprietary rhenium alloy and is the first nickel-free, balloon-expandable TAVR valve intended to restore function and normal blood flow of severely narrowed aortic valves.

Lance Bates, executive vice president and president of Interventional Cardiology and Vascular Therapies at Boston Scientific, said: "The occurrence and recognition of aortic stenosis is growing rapidly and our investment in MiRus continues our pursuit to bring a differentiated TAVR system into our portfolio that we anticipate may improve outcomes for patients living with this life-threatening disease.

"Built upon years of research and proprietary technology, we believe the distinctive design and impressive early clinical results of the SIEGEL valve may set it apart from currently available technology, potentially providing physicians an advanced option to treat a wide array of patients."

MiRus founder and chief executive Jay Yadav said: "The SIEGEL valve is a promising technology and has received enthusiastic feedback from physician investigators for its less invasive delivery, nickel-free construct, precise placement resulting from a lack of foreshortening and excellent hemodynamics.

"This collaborative relationship with Boston Scientific alongside the exceptional capabilities of our Atlanta-based team can further accelerate our progress towards broad accessibility for patients and physicians for what we believe will be a transformational treatment."