Under the terms of the agreement, Spiration and Olympus will work exclusively with each other to gain regulatory approval for the IBV valve system in Japan.
Olympus will be responsible for and fund all required Japanese clinical trials for the treatment of emphysema and the resolution of prolonged air leaks. Olympus will also file the necessary government applications to market the device.
The IBV valve system is a minimally invasive treatment that has diverse applications in both acute and chronic conditions of the lung. Spiration and Olympus have previously announced a definitive agreement granting Olympus exclusive marketing and distribution rights in 43 European countries for the IBV valve system.
Rick Shea, president and CEO of Spiration, said: “We look forward to working together to advancing our therapy in Japan, where we believe our technology will help many people living with the debilitating effects of emphysema, a condition that is chronic and severely impacts quality of life.”