Medtronic to Acquire Epix Therapeutics
January 24, 2019—Medtronic announced that it has entered into a definitive agreement to acquire Epix Therapeutics, Inc. Epix is a privately held medical device company that designs and manufactures a catheter-based, temperature-controlled cardiac ablation system for the treatment of patients with cardiac arrhythmias, including atrial fibrillation (AF). The acquisition is expected to close in Medtronic's fourth fiscal quarter, which ends April 26, 2019, subject to the satisfaction of certain customary closing conditions. Terms of the transaction were not disclosed.
Epix's DiamondTemp ablation system is a closed-loop, temperature-controlled system that is designed to provide improved feedback and control during an ablation procedure. The DiamondTemp system uses radiofrequency (RF) energy to create scar tissue in the heart and complements the Medtronic cryoballoon technology that uses cryo energy to isolate the pulmonary veins.
The DiamondTemp system received European CE Mark approval in 2017. In the United States, use of the DiamondTemp is limited to investigational use.
The DIAMOND-AF trial, which completed enrollment in October 2018, will support approval of the DiamondTemp system in the United States for patients with symptomatic paroxysmal AF. The DIAMOND-AF II trial, which is currently enrolling patients, is evaluating the DiamondTemp system in patients with persistent AF.
Atul Verma, MD, Global Principal Investigator for the DIAMOND-AF II study, commented in the announcement, "The DiamondTemp ablation system stands out from other RF ablation technologies because of the real-time temperature control via rapid power modulation. This results in shorter procedure times and higher confidence in lesion quality. I've had the pleasure of working with Epix to design the DIAMOND-AF II trial and I look forward to continuing that work with Medtronic."