Micrus Endovascular Corporation (Nasdaq: MEND) and privately held Flexible Stenting Solutions Inc. of Eatontown, N.J., today announced the signing of an exclusive agreement to jointly develop a flow diversion technology for neurovascular indications using both Micrus and Flexible Stenting Solutions technology, development capabilities and intellectual property. Flow diversion is a relatively new approach for treating large and giant aneurysms which represent approximately 20%-25% of treated intracranial aneurysms. Unlike microcoils that are placed in the aneurysm, flow diverters are stent-like devices placed in the parent vessel. They serve to divert blood flow away from the aneurysm, thus facilitating healing.
Micrus will be responsible for overseeing the regulatory and clinical process and will manufacture neurovascular products developed based on this collaborative agreement. Under the terms of the agreement, Micrus has made an upfront payment to Flexible Stenting Solutions and will make additional payments upon achieving certain development and regulatory milestones. Micrus will also pay a royalty on net sales of products incorporating the Flexible Stenting Solutions platform.
The Flexible Stenting Solutions platform incorporates a proprietary third-generation self-expanding stent design. The potential benefits of this technology include: