Syneron Medical has entered into a definitive agreement to purchase all the assets of TransPharma Medical including its patent portfolio for approximately $3.6m in cash.
TransPharma has developed a transdermal drug delivery technology based on RF energy that create microscopic channels across the skin.
Based on the transdermal drug delivery technology, TransPharma’s first product, Viador system, is a handheld device with an RF-needle array.
The Viador system is CE mark approved for use in transdermal delivery of biologic drug-products via a system-specific skin patch.
Syneron Medical chief executive officer Louis Scafuri said the company will integrate the TransPharma research and development efforts with its internal team in order to further enhance its potential.
"The acquisition will also contribute to our current product offering with their approved Viador system in Europe and enable Syneron to expand its already dominant intellectual property position in the aesthetic device market," Scafuri added.