Grand Pharmaceutical Group Limited (HKG: 0512), a China-based pharmaceutical company, has announced plans to acquire an 87.5% stake in US-based liquid embolic agent specialist BlackSwan Vascular Inc., for USD 37.5 million. This strategic move signifies Grand Pharma’s commitment to expanding its global presence in the medical device industry.
BlackSwan Vascular Inc. and Its Innovative Products
Founded in 2017, BlackSwan Vascular Inc. has developed a suite of innovative products for treating various medical conditions. Among them, Lava LES stands out as the world’s first liquid embolic agent designed for treating peripheral arterial bleeding, having received marketing approval in the US in April 2023. Lava LES possesses radiopaque properties, which minimize artifacts during imaging and provide superior imaging results. The product is also synergistic with radioisotope brachytherapy and interventional therapy and is anticipated to be used alongside yttrium [90Y] microspheres, potentially expanding its applications to other tumor fields. Grand Pharma already owns the rights to yttrium microspheres following its acquisition of Sirtex Medical in 2018.
Kona: A Promising Product for Cerebral Arteriovenous Malformations
Another notable product in BlackSwan’s portfolio is Kona, which is suitable for preoperative embolization of cerebral arteriovenous malformations. Kona features transient radiopaque properties and has the potential for drug-loading capabilities, allowing for combined use with yttrium [90Y] microspheres. The product is expected to gain market approval in the US by the end of this year. With this transaction, Grand Pharmaceutical Group will secure global rights to both Lava LES and Kona, bolstering its product offerings in the global medical device market.-Fineline Info & Tech
