Japanese Sysmex Corporation is in talks to buy Caesarea-based Dune Medical Devices for $200 million in a definitive M&A deal
Sysmex Corporation is a veteran Japanese medical systems corporation, which was founded in 1968 and is traded on the Japanese and US markets at a $4.7 billion market cap.
Dune Medical has developed a surgical system for the surgical treatment of breast cancer called MarginProbe. The system examines the margins of a tumor removed by lumpectomy to determine whether the tumor is cancerous and whether all cancerous cells have been removed.
The usual procedure involves lab tests of the tissue and results are available within 24 hours at the least, requiring reoperation in case of a positive result.
Last June, Dune Medical Devices reported that an FDA expert panel had recommended using its system for lumpectomy procedures. Dune applied for approval on April 2011, backed by favorable results from about 600 clinical trials in the United States.
Dune Medical Systems CEO Dan Levangie said the system was a powerful surgical tool which could lower the chances of reoperation.
“We shall fully cooperate with the FDA in order to complete the process for marketing approval. Once concluded, we will begin marketing the system in the US,” he said.
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