Healthcare Industry News: Celsion
News Release - June 21, 2007
Boston Scientific Purchases Prostate Treatment Technology from Celsion CorporationDeal Follows Successful Four-Year Exclusive Distribution of Prolieve(R) Thermodilatation System
NATICK, Mass., June 21 (HSMN NewsFeed) -- Boston Scientific Corporation (NYSE: BSX ) today announced that it has purchased technology for treating symptomatic benign prostatic hyperplasia (BPH, often referred to as enlarged prostate) from Celsion Corporation (Amex: CLN ), following approval of the acquisition by Celsion stockholders at the company's annual meeting on June 13. The purchase consists primarily of the ProlieveŽ Thermodilatation System, which Boston Scientific has exclusively distributed since 2004.
BPH affects many men over the age of 50 and can have a significant impact on quality of life including a frequent need to urinate and pain or burning while urinating. The Prolieve System is a non-surgical, less invasive, microwave-based treatment for symptomatic BPH which is routinely performed in the physician's office. The Prolieve System's transurethral catheter uses microwave heating to reduce the enlarged prostate tissue and improve urine flow. The catheter also includes a dilatation balloon, a feature not available in other currently available microwave technologies for BPH. The balloon is used to dilate, or open, the prostatic urethra during the microwave treatment.
"The acquisition of the Prolieve System results from the successful four- year relationship between Boston Scientific and Celsion," said Eric Goorno, President of Boston Scientific's Urology/Gynecology business. "This purchase demonstrates Boston Scientific's continued commitment to improving treatment options for those suffering from urologic conditions, including BPH."
Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: http://www.bostonscientific.com.
This press release contains forward-looking statements. Boston Scientific wishes to caution the reader of this press release that actual results may differ from those discussed in the forward-looking statements and may be adversely affected by, among other things, risks associated with product development and commercialization, clinical trials, intellectual property, regulatory approvals, competitive offerings, integration of acquired businesses, Boston Scientific's overall business strategy, and other factors described in Boston Scientific's filings with the Securities and Exchange Commission.
Source: Boston Scientific
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