QT Vascular and Teleflex Enter Into Asset Purchase and Option Agreement
May 24, 2018—QT Vascular Ltd. announced that it has entered into an asset purchase and option agreement with Teleflex Life Sciences Unlimited Company and Teleflex Incorporated. QT Vascular will seek its shareholders' approval of the agreement.
Under the agreement, Teleflex will acquire the non–drug-coated product line and licenses with respect to intellectual property related to the company's non–drug-coated coronary products (including Chocolate XD and Glider). The agreement also provides Teleflex with an option to purchase QT Vascular's drug-coated balloon (DCB) coronary catheter (Chocolate Heart), which is currently under development.
Independently, QT Vascular will continue to develop and market its other products. This includes its differentiated percutaneous transluminal angioplasty DCB (Chocolate Touch) that is being evaluated in a clinical trial, which is currently enrolling patients in 50 centers and is being conducted under a United States investigational device exemption. The company also plans to develop, acquire, and obtain the rights to new products in new fields of use and to engage in research collaboration activities with large multinational partners, stated QT Vascular.