Acquisition enables Norgine and Arc Medical to increase international exposure of ENDOCUFF VISION™ a novel device to improve the detection of colon cancer
Innovative deal strengthens Norgine’s capabilities in partnership with the existing management team of Arc Medical
LONDON, UK, 1 April 2015, 07.00 GMT+1. Norgine B.V. today announced it has acquired a 70% stake in Arc Medical Design Ltd. while retaining Arc Medical Design existing management, who will retain a 30% ownership stake. This transaction advances the growth of Norgine's colon cancer prevention and detection franchise across the world and strengthens the global launch of Arc Medical Design’s products.
This follows the announcement made on 12 March 2015 that Norgine would commercialise and distribute ENDOCUFF VISION™, a Class 1 sterile medical device used in colonoscopy, across a number of major European markets, Australia and New Zealand. The first launch of ENDOCUFF VISION™ by Norgine is anticipated to take place in the UK in Q2 2015.
Peter Stein, CEO at Norgine said: ‘This transaction is excellent news for patients, Norgine, and Arc Medical Design. We are now able to fully collaborate with this successful management team and to support them in launching this innovative device to detect and prevent colon cancer and in the development of other innovative devices in the same space.’
He added: ‘This investment demonstrates Norgine’s flexible approach to partnering with companies who develop specialised products by adapting structures to achieve shared objectives.’
Colorectal cancer is the second most common cause of cancer-related mortality in the world, with nearly 1.4 million new cases diagnosed worldwide and 412,000 people in Europe.
Arc Medical Design’s lead product ENDOCUFF VISION™ is a single use, sterile endoscopic overtube, which fits onto the distal end of most endoscopes, and has been designed to improve tip control during extubation and enhance mucosal vision in patients with diseases of the colon, including colorectal cancer. The improved visualisation of lesions has been shown to result in an increase in both the Adenoma Detection Rate (ADR) and Mean Adenomas per Patient (MAP) rate. It is envisaged it will be distributed throughout the world, with distribution agreements already in place for the EU, USA China, Japan, South Korea, Australia and New Zealand.
Financial terms were not disclosed.
Notes to Editors
About ENDOCUFF VISIONTM
ENDOCUFF VISION™ is a single-use endoscopic overtube, which fits onto the distal end of an endoscope. The size of the device is approximately 2.5cm long by 1.5cm wide (3.5cm with arms extended), and is of minimal weight.
ENDOCUFF VISION™ has unique hinged arms that lie flat against the shaft of the endoscope to create a smooth, low friction surface during intubation. During extubation the arms of the device flare out to stabilise the tip of the endoscope and centre it in the lumen, providing greater control and enabling the physician to flatten the folds of the colon, leading to superior visualisation.
The device is manufactured in the UK by Boddingtons Plastics Limited, a plastics manufacturer, which holds the CE mark for the product.
Norgine is a European specialist pharmaceutical company that has been established for over 100 years. Norgine provides expertise and ‘know how’ in Europe to develop, manufacture and market products that offer real value to healthcare professionals, payers and patients.
Norgine’s approach and infrastructure is integrated and focused upon ensuring that Norgine wins partnership opportunities for growth. Norgine is headquartered in the Netherlands and its global operations are based in Amsterdam and in Harefield, UK. Norgine owns an R&D site in Hengoed, Wales and two manufacturing sites, one in Hengoed, Wales and one in Dreux, France. For more information, please visit www.norgine.com.
In 2012, Norgine established a complementary business Norgine Ventures, supporting innovative healthcare companies through the provision of debt-like financing in Europe and the US. For more information, please visit www.norgineventures.com.
NORGINE™ and the sail logo are trademarks of the Norgine group of companies.
ENDOCUFF VISION™ is a registered trademark of Arc Medical Design Ltd.
About Arc Medical Design Ltd.
Providing award-winning and innovative products worldwide, Arc Medical is leading the way in increasing Adenoma Detection Rates (ADR) and improving retrieval methods.
As a clinician driven company, Arc Medical is uniquely positioned to understand the needs of those working in the gastro-intestinal sector and strives to improve physician experience and patient outcome.
Isabelle Jouin: Mob: +44 (0)7714 406372
Charlotte Andrews: Mob: +44 (0)7714 061485