Dublin, Ireland, 14 December, 2018. Otsuka Medical Devices Co., Ltd. (“Otsuka Medical Devices”), a 100% subsidiary of Otsuka Holdings Co., Ltd., and Veryan Medical Ltd. (“Veryan”) have announced the completion of the acquisition of Veryan by Otsuka Medical Devices through its UK subsidiary Otsuka Medical Devices UK Ltd.
Veryan’s BioMimics 3D peripheral vascular stent received U.S. FDA approval on 4 October, 2018. Following the acquisition, Veryan and Otsuka Medical Devices plan to collaborate in developing Swirling Flow® stents for use in the treatment of vascular disease. As part of the acquisition, Veryan’s operations in Galway, Ireland, will be retained by Otsuka Medical Devices and will play a key role in the continued development of the Swirling Flow® technology.
Chas Taylor, CEO of Veryan, said: “We are delighted to become part of Otsuka Medical Devices. This will allow Veryan to build on the strong clinical data with the BioMimics stent and realise the potential to significantly advance the treatment of peripheral vascular disease.”
Noriko Tojo, CEO of Otsuka Medical Devices commented: “Veryan’s stent technology represents an excellent fit with our existing activities and has considerable future development potential.”
Alan O’Connell, Partner at Seroba said: “Veryan is another innovative company to emerge from the Galway medtech cluster, one of the largest such hubs in the world. Otsuka Medical will now become part of that cluster through the acquisition of Veryan. We look forward to the continued success of Veryan’s novel technology in its new home.”
About Veryan Medical Ltd.
Veryan has developed the BioMimics 3D Vascular Stent System. The BioMimics 3D stent has a unique three-dimensional helical shape, designed to impart natural curvature to the diseased femoropopliteal artery, promoting swirling flow and elevating wall shear, which has a protective effect on the endothelium. The helical shape of the BioMimics 3D stent is also designed to facilitate shortening of the stented segment during knee flexion and mitigate the risk of stented segment compression causing localised strains that in a straight stent may lead to stent fracture and chronic vascular injury. Veryan’s Head Office is in Horsham, UK and its Research & Development facility is located in Galway, Ireland. BioMimics 3D and Swirling Flow are registered trademarks of Veryan Medical Ltd. The BioMimics 3D Vascular Stent System has FDA and CE Mark approval.
About Seroba Life Sciences
Seroba is a European VC firm headquartered in Dublin, Ireland and working with leading entrepreneurs developing innovative medical devices, diagnostics and therapeutic drugs. We fund opportunities through key value-adding stages, from inception through to partnering with leading pharmaceutical or medtech companies. Our team combines in-depth scientific and medical knowledge with broad regulatory and commercial expertise. We are known for patience, understanding, commitment, passion and an over-riding focus on delivering improvements to patient care and value to our stakeholders.
About Otsuka Medical Devices Co., Ltd.
Otsuka Medical Devices Co., Ltd. focuses on the development and commercialisation of endovascular devices that provide new therapeutic options in areas where patient needs cannot be met through pharmaceutical or other conventional treatment. Otsuka Medical Devices Co., Ltd. is a fully-owned subsidiary of Otsuka Holdings Co., Ltd., a leading global healthcare group listed on the Tokyo Stock Exchange (JP 4578). With operations in pharmaceuticals, nutraceuticals, medical devices and other health-related businesses, the group generated worldwide sales of JPY1,240 billion in the fiscal year ended December 2017.