Micrus Endovascular and FSS sign development agreement

Tue. August 25, 2009; Posted: 09:53 AM

Aug 25, 2009 (Datamonitor via COMTEX) -- MEND | Quote | Chart | News | PowerRating -- Micrus Endovascular, a provider of implantable and disposable medical devices, and Flexible Stenting Solutions, or FSS, have signed an exclusive agreement to jointly develop a flow diversion technology for neurovascular indications using both Micrus and FSS technology, development capabilities and intellectual property.

Micrus will be responsible for overseeing the regulatory and clinical process and will manufacture neurovascular products developed based on this collaborative agreement.

Under the terms of the agreement, Micrus has made an upfront payment to FSS and will make additional payments upon achieving certain development and regulatory milestones. Micrus will also pay a royalty on net sales of products incorporating the FSS platform.

Flow diversion is a relatively new approach for treating large and giant aneurysms which represent approximately 20% to 25% of treated intracranial aneurysms. Unlike microcoils that are placed in the aneurysm, flow diverters are stent-like devices placed in the parent vessel. They serve to divert blood flow away from the aneurysm, thus facilitating healing, the two companies said.

Janet Burpee, CEO of FSS, 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 technology and allows us to extend our proprietary technology to the treatment of cranial aneurysms."

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