Novate acquired by BTG

BTG is a global healthcare company with a focus on interventional medicine, and has a portfolio spanning therapy areas of cancer, vascular conditions and severe emphysema. Novate is a medical device company with a focus on the prevention of pulmonary embolism in patients at high risk of venous thromboembolic events. BTG has now paid $20m for Novate and could pay a further $130m in milestone payments.

Sentry, a Novate product, has just been given regulatory approval in the US. It is the first bio convertible inferior vena cava filter and does not need to be removed through further invasive intervention. Unlike other IVC filters, Sentry’s 12 month clinical trial data showed no evidence of device migration, tilt, fracture, perforation or embolisation, and no new symptomatic pulmonary embolism. BTG’s existing vascular sales force will begin selling Sentry in the US in the near future.

Louise Makin, CEO of BTG, said: “This bolt-on acquisition further enhances BTG’s strength in the vascular space. Novate’s unique IVC filter offers our existing customers a highly complementary product in the management of PE.”