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Home > Augmenix sells minority stake to Varian Medical for $15M

Augmenix sells minority stake to Varian Medical for $15M

Mass High Tech: The Journal of New England Technology

Waltham biotech Augmenix Inc. has inked a deal with California med tech giant Varian Medical Systems Inc. in which Varian will pay $15 million for a minority stake in Augmenix.

The strategic investment also gives Varian (NYSE: VAR) an exclusive option to buy the rest of Augmenix for an undisclosed final price if certain agreed-upon milestones have been met. Varian makes medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery and brachytherapy. The lead product for Augmenix is a hydrogel-based product called the SpaceOAR System which helps shield nearby tissue when a patient is undergoing radiation therapy for prostate cancer.

SOURCE [1]

Source URL (retrieved on 05/22/2013 - 4:37pm): http://www.mdtmag.com/news/2011/05/augmenix-sells-minority-stake-varian-medical-15m

Links:
[1] http://www.masshightech.com/stories/2011/05/16/daily10-Augmenix-sells-minority-stake-to-Varian-Medical-for-15M.html