Advanced Research Technologies agrees to acquire assets of Alerion Biomedical

By Lisa Kerner

Erie, Pa., Feb. 15 - Advanced Research Technologies Inc. (ART) said it has concluded a definitive agreement to acquire substantially all of the imaging technology and product assets of Alerion Biomedical, Inc.

The transaction is expected to close within a few days and is subject to Toronto Stock Exchange approval. The terms of the agreement were not disclosed.

The Alerion Biomedical biomarker technology acquired by ART has potential applications for both the preclinical and clinical markets, according to a company news release. Alerion's biomarker technology, particularly the Fenestra product line, has the advantage of being applied to multiple imaging modalities including CT, Optical and MRI.

"In addition to producing preclinical and clinical imaging devices, ART will now have the capability to develop and supply biomarker and imaging agents for the preclinical and clinical markets, thus creating a new recurring revenue platform for the company," Micheline Bouchard, ART president and chief executive officer, said in the release.

According to recent industry reports, the total biomarker and radiopharmaceutical sector represents a global market in excess of $5 billion, officials said.

ART, a Montreal-based medical device company, provides optical molecular imaging products to the health care and pharmaceutical industries.

Alerion is a U.S.-based developer and manufacturer of biomarkers and contrast media for preclinical and clinical imaging devices.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.