Cordis Completes MedAlliance Acquisition

October 2, 2023—MedAlliance, a Switzerland-based manufacturer of the Selution SLR sustained sirolimus drug-eluting balloon (DEB), has been acquired by Cordis, closing the transaction that was first announced in October 2022. Cordis is headquartered in Miami Lakes, Florida.

According to the company, MedAlliance’s Selution SLR flagship product family complements Cordis’ existing product portfolio of interventional cardiovascular and endovascular technologies with their sales, marketing, and distribution expert. Cordis’ customers will benefit from MedAlliance’s extensive clinical study program and publication plan, noted the company.

The acquisition included a 2022 investment of $35 million and an upfront closing payment in 2023 of $200 million, with regulatory achievement milestones of up to $125 million and commercial milestones of up to $775 million through 2029, for a total consideration of up to $1.135 billion.

“The Cordis acquisition will accelerate access to this breakthrough technology for patients around the globe suffering from coronary and peripheral disease,” stated Jeffrey B. Jump, Founder, Chairman, and CEO of MedAlliance, in the company's press release. “I want to thank our entire MedAlliance team—including physicians, distributors, and clinical patients—who have succeeded in disrupting the coronary and peripheral markets to provide a safe and effective new technology. The arsenal of Selution SLR DEB clinical data is designed to change medical practice and improve patient outcomes.”

Shar Matin, Cordis CEO, added, “Nearly 20 years ago, Cordis introduced Cypher, the first drug-eluting stent, transforming cardiovascular treatment for patients around the world. As a newly independent company, we are beyond proud to further our legacy of innovation and market disruption with MedAlliance and the first microreservoir sirolimus DEB, Selution SLR.”

MedAlliance’s Selution SLR received CE Mark approval for the treatment of peripheral artery disease in February 2020 and for the treatment of coronary artery disease in May 2020. The device is commercially available in Europe, Asia, the Middle East, and the Americas (outside the United States) and most other countries where the CE Mark is recognized.

MedAlliance received FDA investigational device exemption (IDE) approvals for peripheral below-the-knee (BTK) and superficial femoral artery (SFA) indications in May 2022 and August 2022, respectively, and for coronary in-stent restenosis (ISR) in October 2022 and de novo coronary artery lesions in January 2023.

The company is currently enrolling patients in three FDA studies. A fourth study of patients with coronary de novo artery disease, which is planned to start in the next few weeks, will complement the experience gained with the SELUTION DeNovo trial in Europe, which has enrolled more than 1,700 patients of a planned 3,326 patients. SELUTION DeNovo compares the treatment strategy using Selution SLR versus any limus drug-eluting stent.

George Adams, MD, who is Chief Medical Officer of Cordis, serves as a Steering Committee member of MedAlliance’s United States SELUTION4SFA and SELUTION4BTK IDE studies. Dr. Adams is also Director, Cardiovascular and Peripheral Vascular Research at Rex Hospital Inc. in Raleigh, North Carolina.

“We are excited to report on the positive Selution SLR data to date, with first-hand experience of the impressive clinical outcomes from patients treated with Selution SLR in Japan, India, Europe, and South America,” commented Dr. Adams in the MedAlliance press release. “We are now leading the effort to emulate these results in the United States. This technology has the distinct opportunity to change the treatment paradigm for patients suffering from cardiovascular and peripheral vascular disease.”