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Volcano has big plans for new $36M Crux Biomedical acquisition

Mon, 12/03/2012 - 12:50pm
Mass Device

Medical device company Volcano lays out a road map to FDA wins, commercial launches and milestone payments in connection with its $36 million acquisition of Crux Biomedical.

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Volcano (NSDQ:VOLC) signed a definitive agreement to acquire Crux Biomedical for $36 million in cash, laying out a road map for anticipated FDA wins and commercial launches related to the merger.

Menlo Park, Calif.-based Crux Biomedical is a privately held medical device maker developing inferior vena cava filters for treatment of pulmonary embolisms, an estimated $300 million market in the U.S., according to a Volcano report.

Crux in January 2012 won FDA clearance for its inferior vena cava filter with bi-directional retrieval of blood clots, just a month after winning CE Mark approval for the European Union. Volcano is expecting to submit an FDA application for another Crux retrieval device on or before June 30, 2013.

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