Micrus (MEND) and Flexible Stenting Solutions have selaed an agreement to jointly develop a flow diversion technology for neurovascular indications, using their technology, development capabilities and intellectual property.
Flow diversion is a new approach for treating large and giant aneurysms, which represent approximately 20%-25% of treated intracranial aneurysms.
Reportedly, Micrus will be responsible for overseeing the regulatory and clinical process and will manufacture neurovascular products 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.
Moreover, Micrus will also pay a royalty on net sales of products incorporating the Flexible Stenting Solutions platform.
Janet Burpee, CEO of Flexible Stenting Solutions, said: “We are excited about working with Micrus to develop products that will provide a highly clinically adaptive device that by design enables interventionalists with a full range of treatment and post-delivery options. This partnership with Micrus fits our corporate objective of developing specialty solutions based on our proprietary, cutting-edge technology and allows us to extend our proprietary technology to the treatment of cranial aneurysms.”