Teleflex announces acquisition of Semprus BioSciences

Teleflex Incorporated (NYSE:TFX), a leading global provider of medical devices for critical care and surgery, announced it has acquired Semprus BioSciences (Cambridge, Massachusetts), a biomedical company and spin out from Massachusetts Institute of Technology (MIT). The acquisition includes the core Semprus Sustain™ Technology. The transaction brings to Teleflex an innovative and patented platform technology that serves as the basis for next-generation medical devices. The technology is designed to provide the benefits of reducing complications such as thrombosis and microbial adhesion over long durations.    

Sustain™ is a long-lasting, covalently bonded, non-leaching 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 in in vitro testing after multi-month 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.

"This acquisition illustrates our commitment to invest in late-stage, innovative technologies to support our future growth," said Benson Smith, Chairman, President and CEO. "We believe Semprus' novel technology provides distinct advantages over other surface and coating technologies currently on the market with its dual-functionality, ability to work in blood products, and long-term duration. Furthermore, we are excited about the potential for a broad array of our products with this technology to reduce infection-and thrombus-related complications for patients, as well as the resulting substantial healthcare costs which often arise when medical devices are implanted in the body. Finally, with the recently 510(k) cleared antithrombogenic claims on our existing ARROW PICC with Chlorag+ard technology, which is a chlorhexidine-based coating, we feel Semprus' Sustain™ technology provides us a tremendous next generation platform for continued innovation."

"The combination of Teleflex and Semprus BioSciences is an excellent opportunity to capitalize on the strengths of both organizations," stated David Lucchino, Semprus BioSciences co-founder and VP, Semprus Techology. "We look forward to being a catalyst for continued growth through the development and rollout of the Sustain™ technology on medical devices around the world."

The initial focus for the technology is its use in vascular device applications, and a Semprus Sustain™ coated Peripherally Inserted Central Catheter (PICC) is currently pending 510(k) clearance from the Food and Drug Administration (FDA). Sustain™ is also pending CE Mark approval in Europe.

Under the terms of the agreement, Teleflex has acquired Semprus BioSciences for an upfront payment of $30 million. Teleflex may be required to make certain additional payments based upon the achievement of certain regulatory and revenue milestones over the next several years.