Apama Medical was acquired by Boston Scientific in deal that is worth $300 million for its’ radiofrequency balloon catheter system designed to treat atrial fibrillation. InteliSpark’s predecessor (Centurion Technology) helped Apama Medical secure $1.2 million in National Science Foundation Phase I, Phase II, and Phase IIB funding. This funding, which began in 2010, played a critical role in the early stage development of Apama’s novel RF balloon catheter system.
Apama’s novel RF balloon is a single-shot, multi-electrode device designed to combine the benefits of RF point-by-point and balloon-based ablation approaches, the company said, claiming the system delivers differentiated energy levels and shorter procedure times. The system features an incorporated digital camera with LED lights and sensing electrodes for real-time visualization of the procedure and catheter electrode contact.
The deal, which Boston Scientific announced last Monday, includes an initial $175 million in cash up-front from the Marlborough, Mass.-based company and an additional $125 million in contingent payments between 2018 and 2020 based on clinical and regulatory milestones.