SINGAPORE, Oct. 1, 2012 /PRNewswire-FirstCall/ -- Biosensors International Group, Ltd. ("Biosensors" or the "Company", Bloomberg: BIG SP; Reuters: BIOS.SI; SGX: B20) and Terumo Corporation ("Terumo") announced today an extension of their existing licensing agreements, under which Terumo may continue to incorporate BioMatrix™ technology in the production, marketing and selling of Terumo's drug-eluting stent (DES) systems in markets worldwide, outside of the United States. Terumo is one of the world's leading medical device manufacturers.
Biosensors and Terumo have agreed to extend the original licensing agreement for territories outside of Japan until December 2014, under terms similar to the original October 2003 agreement. Terumo also continues to benefit from its existing rights in Japan to manufacture, market and sell DES systems incorporating BioMatrix® technology.
Under the original agreements, Terumo began introducing its Nobori™ DES system in global markets outside of Japan and the United States in 2008, and in Japan in 2011. Nobori is now sold in over 20 countries across Europe, Asia and Latin America. Nobori incorporates both Biolimus A9™ (BA9™), an anti-restenotic drug developed and patented by Biosensors specifically for use with stents, as well as Biosensors' unique abluminal biodegradable polymer coating.
"We have established a strong partnership with Terumo over many years, and are delighted by this latest agreement, which further enhances our long-term strategic relationship," commented Jeffrey B. Jump, President of Biosensors' Cardiovascular Business Unit. "Our two companies will continue to work closely together to strengthen our respective technologies to provide future growth and patient benefit around the world."
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About Biosensors International Group, Ltd
Biosensors International develops, manufactures and markets innovative medical devices for interventional cardiology and critical care procedures. We aim to improve patients' lives through pioneering medical technology that pushes forward the boundaries of innovation.
With the increasing use of the BioMatrix™ family of drug-eluting stents and the recent launch of our Axxess™ self-expanding bifurcation drug-eluting stent, we are rapidly emerging as a leader in the global coronary stent market. The development of the BioFreedom™ drug-coated stent will further reinforce our market position.
All three stents incorporate Biolimus A9™ (BA9™), an anti-restenotic drug developed and patented by Biosensors specifically for use with drug-eluting stents. Both the BioMatrix stent family and the Axxess stent feature a unique abluminal biodegradable polymer coating, which fully degrades into carbon dioxide and water after six to nine months as it releases BA9. The BioMatrix stent family features workhorse stent platforms for a broad range of lesions, and the Axxess stent employs a self-expanding stent platform specifically designed for treating bifurcation lesions. BioFreedom, a completely polymer‐free stent abluminally coated with BA9, is currently undergoing clinical evaluation.
For more information, please visit www.biosensors.com.
Certain statements herein include forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "project" or "continue" or the negative thereof or other similar words. All forward looking statements involve risks and uncertainties, including, but not limited to, customer acceptance and market share gains, competition from companies that have greater financial resources; introduction of new products into the marketplace by competitors; successful product development; dependence on significant customers; the ability to recruit and retain quality employees as Biosensors grows; and economic and political conditions globally. Actual results may differ materially from those discussed in, or implied by, the forward-looking statements. The forward-looking statements speak only as of the date of this release and Biosensors assumes no duty to update them to reflect new, changing or unanticipated events or circumstances.
SOURCE Biosensors International Group, Ltd.