Boston Scientific signs atrial fibrillation partnership

Boston Scientific has signed a strategic partnership agreement with CryoCor relating to the use of extreme cold – or cryoablation – as a treatment for cardiac arrhythmias.

The companies have agreed to develop a console that will aim to deliver cryo energy to the cryo balloon catheter from Boston Scientific for the treatment of atrial fibrillation.

Under the terms of the deal, Boston Scientific will make set payments to CryoCor with further payments to be made development milestones are reached.

Furthermore, Boston Scientific has agreed to purchase shares in CryoCor to the value of $2.5 million (1.25 million pounds), with the purchase of an additional $2.5 million of shares also dependent on the attainment of specific development landmarks.

Joe Fitzgerald, president of the electrophysiology division at Boston Scientific, said: “We believe that the proposed combination of CryoCor’s proprietary console design and cryogenics expertise, along with Boston Scientific’s extensive history of balloon catheter leadership will be a significant strategic and competitive advantage in the [atrial fibrillation] market.”

Ed Brennan, chief executive officer of CryoCor, described this agreement as a validation of cryoablation in general and the company’s efforts in this field, with the partnership set to help the firm as it launches its system in the US.

Last week, Boston Scientific announced the acquisition of Israeli medical technology company Remon Medical Technologies.