The deal includes the purchase of Medimetrics’ patent portfolio for ingestible device technologies
US-based Progenity has purchased the assets of ingestible device company Medimetrics for an undisclosed sum.
The acquisition will help Progenity strengthen its existing intellectual property portfolio, in addition to the development of ingestible devices that can be used for the research, diagnosis, and treatment of gastrointestinal (GI) tract conditions.
Medimetrics former chief technology officer and Progenity device development director Jeff Shimizu said: “Medimetrics’ expertise in device development and system engineering set the stage for ingestible drug delivery and sampling, even garnering CE marks for several products for clinical and commercial use.”
Acquisition of Medimetrics assets by Progenity
The deal includes the acquisition of Medimetrics’ patent portfolio for ingestible device technologies, which comprises 137 granted patents and 15 pending applications in the US, Europe, China, and Japan.
Along with existing patents, Progenity’s ingestible device intellectual property portfolio now includes a range of technological advances.
Progenity’s intellectual property portfolio includes autonomous self-localisation, sample collection and preservation from pre-selected GI locations, as well as targeted therapeutic delivery to the GI tract for topical and systemic applications.
At present, the total patent portfolio of the company includes 200 granted patents and 216 pending applications across its diagnostic and therapeutic platforms.
Progenity board chairman and co-founder Dr Harry Stylli said: “With the acquisition of Medimetrics’ assets, Progenity now holds one of the most robust ingestible device patent estates.
“The synergy of Medimetrics’ technology with our own should allow us to greatly advance development and commercialization of our pipeline of ingestible technologies and therapeutics. Our aim is to improve understanding, diagnosis, and treatment of gastrointestinal diseases, ultimately enabling precision medicine.”
Progenity is involved in the development of ingestible technologies and therapeutics for the diagnosis and treatment at the site of disease in the GI tract. Its systems serve as a noninvasive option for diagnosing, treating, and monitoring GI disease