Micrus, Biotronik form development, distribution agreement for neurovascular devices

By Angela McDaniels

Seattle, Jan. 9 - Micrus Endovascular Corp. and Biotronik AG said they have signed an exclusive agreement for the joint development and distribution of neurovascular devices such as stents, catheters and balloon technologies.

Micrus will be the worldwide distributor for any products developed under the agreement.

Micrus will also fund development, pay an upfront licensing fee, make payments based on the achievement of predetermined milestones and pay royalties on products sold, the companies said.

"We envision our collaborative arrangement will allow for the effective development of multiple neurovascular stents and stent delivery systems for the treatment of hemorrhagic and ischemic stroke," Micrus president and chief executive officer John Kilcoyne said in a company news release.

"This agreement provides us with the opportunity to move beyond our current coronary and peripheral vascular intervention focus," Claus Martini, chief executive officer of Biotronik Vascular Intervention, said in the release.

Micrus is a biotechnology company based in Sunnyvale, Calif., that develops, manufactures and markets implantable and disposable medical devices used in the treatment of cerebral vascular diseases.

Biotronik manufactures medical technology and is based in Bulach, Switzerland.

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