Xenogenics, a majority owned subsidiary of MultiCell Technologies, has acquired Ideal BioStent assets from investment funds managed by Western Technology Investment and Silicon Valley Bank.
Xenogenics has also entered into a worldwide exclusive license with Rutgers University for rights to certain intellectual property related to the Ideal BioStent.
The Ideal BioStent offers a dual-drug polymer, incorporating salicylate, aspirin’s active component, which promotes blood vessel healing, the company said.
The Ideal BioStent also incorporates the drug Sirolimus (rapamycin) in its polymer matrix to provide anti-restenotic therapy similar to today’s commonly used drug-eluting metal stents.
The Ideal BioStent’s technology allows for the ability to layer different combinations of polymers and drugs, enabling the optimisation of the delivery of combination drug therapies to provide superior clinical results.
Xenogenics also licensed rights to a strong intellectual property portfolio covering the Ideal BioStent and the patent estate includes 24 issued patents, and over 65 patent applications with broad claims encompassing interventional cardiology and intravascular bioabsorbable stent design and manufacture.
Xenogenics is a development-stage medical device company focused on the design of bioabsorbable stents for interventional cardiology and peripheral vessel applications.