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