Medical company Boston Scientific Corporation (NYSE:BSX) on Monday announced the acquisition of BTG plc (LSE:BTG).
Following the effectiveness of the scheme of arrangement, BTG became a wholly-owned subsidiary of Boston Scientific and BTG shares no longer trade on the London Stock Exchange.
In conjunction with the acquisition, the holders of BTG common shares will receive GBP8.40 in cash per share.
BTG reportedly develops and commercialises products used in minimally-invasive procedures targeting cancer and vascular diseases. Its three key businesses include the highly-differentiated Interventional Medicine portfolio of interventional oncology therapeutic technologies for patients with liver and kidney cancers, a vascular portfolio for treatment of deep vein thrombosis, pulmonary embolism, deep venous obstruction and superficial venous disease as well as a specialty pharmaceutical business comprised of acute care antidotes to treat overexposure to certain medications and toxins.
In connection with obtaining the antitrust clearances and the BTG transaction, Boston Scientific expects to complete the sale of its global embolic microspheres portfolio of Embozene, Embozene TANDEM and ONCOZENE brands to Varian Medical Systems Inc in due course.
(USD1=GBP8.2)
Norgine submits first marketing authorisation application submissions for approval of eflornithine
Innovent Biologics names new Oncology CMO
UroGen's UGN-103 IND accepted by FDA for bladder cancer treatment
Innate Pharma advances Sanofi-developed NK cell engager to Phase 2 for blood cancer patients
Portage Biotech expands evaluation of strategic alternatives
Stamford Pharmaceuticals starts locally advanced basal cell carcinoma (laBCC) trial of SP-002
QST selects RayStation for advanced carbon ion therapy
Candel Therapeutics granted FDA Orphan Drug Designation for CAN-2409 in pancreatic cancer treatment
Innate Pharma reports preclinical efficacy of IPH45
Roche attains CE Mark for first companion diagnostic for HER2-low metastatic breast cancer
BioCity Biopharma's BC2027 Phase one study IND application receives US FDA approval
enGene Holdings names new senior vice president, Urologic Oncology and Clinical Development
CLS secures second order from NIH Clinical Center for Thermal Therapy System accessories