Teleflex Acquires Hotspur Technologies and Semprus BioSciences

July 18, 2012—Teleflex Incorporated (Limerick, PA) announced that it has acquired Hotspur Technologies, Inc. (Mountain View, CA), a developer of catheter-based technologies aimed at restoring blood flow in patients with obstructed vessels. This includes the VisioValve injection system that is the basis for a portfolio of 510(k)-cleared multifunction catheters.

According to Teleflex's press release, VisioValve technology is the base for the Hotspur GPSCath balloon dilatation catheter, the IQCath balloon dilatation catheter, and the Keeper embolectomy catheter.

Hotspur's GPSCath catheter is a specialty two-in-one device that is intended for dialysis access and peripheral vascular interventions. It allows the physician to perform angioplasty and to inject fluid while maintaining guidewire position.

The IQCath catheter is indicated for use within synthetic dialysis access grafts to remove embolic material and to dilate obstructive blockages.

The Keeper catheter is intended for use in the arterial system. It is a two-in-one device that integrates an embolectomy balloon with the ability to inject physician-specified fluids while maintaining guidewire position.

Teleflex advised that these three products have received 510(k) clearance from US Food and Drug Administration and CE Mark approval in Europe. They are all commercially available in the United States, and Teleflex expects to begin product shipments of the GPSCath to Europe during the third quarter of 2012.

Under the terms of the agreement, Teleflex has acquired Hotspur Technologies for an upfront payment of $15 million and may be required to make additional payments based upon the achievement of certain regulatory and revenue milestones over the next several years, the company stated.

In other company news, Teleflex announced on June 25 that it has acquired Semprus BioSciences (Cambridge, MA), a biomedical company and spin-out from the Massachusetts Institute of Technology, for an upfront payment of $30 million with additional payments based upon the achievement of certain regulatory and revenue milestones over the next several years.

According to Teleflex, the acquisition includes the Semprus Sustain platform technology, which is designed to reduce complications such as thrombosis and microbial adhesion over long durations.

The company stated that Sustain is a long-lasting, covalently bonded, nonleaching polymer that is designed to reduce the attachment of platelets and blood proteins at the device surface. Sustain has been shown to reduce thrombus accumulation during in vitro testing after multimonth exposure to blood and through in vivo animal testing. The technology characteristics mimic the chemical properties of endothelial cell membrane, reducing the foreign body response to an implanted device.

Teleflex advised that the initial focus for the technology is its use in vascular device applications, and a Sustain-coated peripherally inserted central catheter is currently pending 510(k) clearance from the US Food and Drug Administration. Sustain is also pending CE Mark approval in Europe, the company stated.