Boston Scientific has acquired asthma medical device company Asthmatx from Swiss venture capital firm HBM Bioventures for $193.5m in cash, corresponding to almost twice the amount invested.
Additional payments of up to $250m will fall due when future sales milestones are reached, which would take the total return to a maximum of 4.5 times the investment made.
Asthmatx develops and manufactures catheter-based medical devices for patients with severe asthma. Asthmatx’s bronchial thermoplasty, delivered by the Alair System, is a novel device-based minimally invasive treatment option for patients with severe asthma.
The Alair System has been approved for use in the US by the FDA and has received a CE mark for use in the European Union.
HBM BioVentures is a major investor in Asthmatx and has played a significant role in the company’s growth since its initial investment in 2005. In 2007, Asthmatx received $50m from Olympus for the continued financing of its product development activities.