Boston Scientific Corporation (NYSE: BSX), announced its acquisition of the interventional radiology business of CeloNova Biosciences, a global developer and manufacturer of endovascular and interventional cardiology technologies. The price was $70 million upfront, plus additional payments contingent on regulatory and sales milestones. BSX is taking on CeloNova’s Embozene Tandem Drug-Elutable Microspheres, which can be embedded with drugs used to treat liver cancer, and other oncology products. CeloNova has received an Investigational Device Exemption from the FDA for the Solace Trial, a randomized, controlled study of the Oncozene Microspheres loaded with chemotherapy agent doxorubicin, expected to begin in the fourth quarter of 2015.
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