-->10/30/2006
Marlborough, MA — Cytyc Corporation, a provider of medical technology, announced that it has purchased certain assets of Helica Instruments Limited (“Helica”), including the Helica Thermal Coagulator (HTC) System developed and manufactured by Helica, a privately held company based in Edinburgh, Scotland. The HTC System is used by obstetricians and gynecologists for the treatment of endometriosis. Cytyc intends to develop a second-generation product for worldwide product launch in 2008. Under the terms of the agreement, Helica will receive an up-front payment of $1 million and a two-year earnout based on sales of the next generation product. Total consideration under the agreement will not exceed $9 million.
“We believe that this technology offers an exciting opportunity to extend our portfolio of therapeutic products and leverage our OB/GYN sales infrastructure, which has been a critical element in the success we have achieved with the NovaSure® Endometrial Ablation System,” said Daniel J. Levangie, president of Cytyc’s surgical products division. “Clinical studies in the United Kingdom have shown HTC to be safe, easy to use, and as effective as other surgical treatment techniques for endometriosis, a disease estimated to affect 30 percent of women in their child-bearing years.”
Approved by the Food and Drug Administration (FDA), the HTC is a thermal ablation system that uses an ionized helium gas plasma plume to provide safe and effective treatment of endometriosis. The HTC System, currently in use in select European markets, performs a controlled ablation of tissue associated with endometriosis without affecting surrounding tissue. The system, used during open and laparoscopic surgery, includes a controller and disposable probes. Endometriosis affects an estimated 7 million women in the United States and approximately 16 million women worldwide.
SOURCE: Cytyc Corporation
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