This alliance represents an important event in the evolution of Pluromed. The proceeds from the agreement allow us to further invest in growing our core cardiovascular business, and with Boston Scientific distributing the BackStop product, we anticipate a successful launch and ongoing growth.
Woburn, Massachusetts (PRWEB) October 8, 2009
Pluromed, Inc. has announced that it has entered into an alliance with Boston Scientific Corporation (NYSE: BSX) regarding Pluromed's BackStop™ product, a device used in ureteroscopic kidney stone management procedures. Boston Scientific has acquired the worldwide distribution rights to BackStop. The financial terms of the agreement were not disclosed.
Kidney stone disease is estimated to affect millions of people worldwide. A common method of treating these stones is intracorporeal lithotripsy where the stones are fragmented using a laser or other energy modality in a minimally invasive procedure. Backstop™ is based on Pluromed's proprietary Rapid Transition Polymers™ (RTP™) that are liquid at low temperature and transition to a gel at body temperature; the transition is reversible via cooling and the gel is completely dissolvable. The BackStop gel forms a plug above the stones in the ureter and is designed to prevent stone migration during the procedure. After stone fragmentation is complete, the gel is dissolved with saline and exits the body. The BackStop product offers the potential to reduce operating time and complexity, and improve "stone free" rates for patients.
"We are very pleased to work with with Boston Scientific," said John Merhige, Pluromed's Vice President of Market Development. "BSC is the market leader with the resources and expertise to get the BackStop product into the hands of urologists." The BackStop device is approved for sale in Europe, Canada and the United States.
Jean-Marie Vogel, Pluromed's CEO, said, "This alliance represents an important event in the evolution of Pluromed. The proceeds from the agreement allow us to further invest in growing our core cardiovascular business, and with Boston Scientific distributing the BackStop product, we anticipate a successful launch and ongoing growth."
Pluromed and Boston Scientific will be working closely on integrating the BackStop product into BSC's systems in anticipation of the worldwide product launch.
About Pluromed, Inc.
Pluromed, Inc., Woburn, Massachusetts, founded in 2003, is pioneering the use of atraumatic gel plugs to improve the safety, efficacy and economics of medical interventions. These products address a broad surgery market that includes cardiac and vascular surgery, prostate, kidney and liver surgery, plastic/reconstructive surgery, trauma/battlefield applications and the treatment of kidney stones. They are based on the Company's patented rapid phase transition polymer technology; Pluromed Rapid Transition Polymers™ (RTP™) are liquid at low temperature and quickly transition to a high viscosity gel at body temperature. For more information, please visit http://www.pluromed.com
About Boston Scientific Corporation
Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: http://www.bostonscientific.com