Boston Scientific had been a strategic business partner with Celsion, as the US marketer of Prolieve Thermodilatation which is used for the treatment of benign prostatic hyperplasia. In June 2007, Boston Scientific purchased the Prolieve assets from Celsion for $60 million.
Michael Tardugno, Celsion’s president & CEO, said: “The purchase of our shares from Boston Scientific represented an opportunity to obtain value through a strategic use of our company’s capital. The management and the board of directors believe this transaction is in the best interest of shareholders.”