Hoya Group’s division Pentax Medical has acquired US firm C2 Therapeutics for an undisclosed sum.
Based in Redwood City of California, C2 Therapeutics is engaged in the development and commercialization of CryoBalloon ablation technology.
The CryoBalloon system has been developed for the endoscopic ablation of unwanted tissue such as Barrett’s esophagus.
In the European Union, the C2 CryoBalloon system is indicated to ablate unwanted tissue in the gastrointestinal tract, including treatment of Barrett’s Esophagus and squamous dysplasia, through applying extreme cold.
The acquisition will enable Pentax Medical to expand its therapeutic endoscopy portfolio, including the role in the gastroenterology suites.
Pentax Medical global chief marketing officer David Woods said: “The C2 CryoBalloon ablation system has the potential to improve the lives of millions of people around the world with pre-cancerous lesions of the esophagus.
“In western cultures, obesity and high incident rates of Gastroesophageal Reflux disease (GERD) have contributed to the estimated 3.3 million5 people living with Barrett’s esophagus in the United States.”
C2 Therapeutics president Peter Garcia Meza said: “Pentax Medical’s investment will enable C2 to continue our work with clinicians in the field, build our body of evidence and develop the platform to its full potential.”
Based in Japan, Pentax Medical provides endoscopic imaging devices and solutions to the medical customers.