PQ Bypass Sold to Endologix
Seroba’s portfolio company, PQ Bypass Inc., a medical device pioneer advancing the treatment of complex peripheral artery disease (PAD), has been acquired by Endologix, a global medical device company wholly owned by investment firm Deerfield. Seroba was an early investor in PQ Bypass and co-led the Series A investment when the company was spun out of the Fogarty Institute for Innovation in Silicon Valley. As part of the investment, a subsidiary of PQB was also set up in Ireland. The company was recognized by MedTech Outlook magazine as one of the Top 10 Cardiovascular Companies of 2019 and earned Frost and Sullivan’s European Technology Innovation award in 2017.
Daniel O’Mahony, Partner at Seroba, said: “The PQ Bypass procedure has now demonstrated that it can significantly improve outcomes for patients with long-lesion blockages in peripheral vasculature. These high-risk patients have limited options and can face the threat of amputation. The procedure, which was awarded Breakthrough Device designation by the FDA last year, can reduce patient recovery times drastically by converting a hugely invasive surgical procedure into a minimally invasive procedure. The clinical data to-date, as published post 12- and 24- months follow-up, is outstanding and confirms Seroba’s early belief in the Detour technology,” added Mr O’Mahony. “Delivering for our investors whilst improving healthcare outcomes for patients worldwide is what we do and we are always on the look-out for more disruptive innovations just like PQ Bypass.”
The acquisition by Endologix of PQ Bypass creates the opportunity to bring the company’s Detour and Torus devices onto the market post FDA approvals, with Endologix’s existing and substantial manufacturing capability, as well as its international sales and marketing organisation.
About Seroba Life Sciences
Seroba is a European life sciences venture capital firm focused on investing in winning innovations in biotech and medtech. The team has deep investment and industry experience enabling Seroba to help entrepreneurs realise their ambitions whilst creating value for investors. The firm has three funds under management and has built a portfolio of investee companies across multiple indications. Seroba partners with entrepreneurs to create and build businesses around extraordinary science.
About Endologix
Endologix is a California-based, global medical device company dedicated to improving patients’ lives by providing innovative therapies for the interventional treatment of vascular disease. Endologix has a therapeutic portfolio designed to treat diseases which currently have clinically relevant unmet needs. These products can treat a wide spectrum of vascular disease through abdominal aortic aneurysms to lower limb peripheral vascular disease. Endologix became a private company, wholly owned by Deerfield on October 1, 2020. Prior to that, Endologix had been a publicly traded company. The Company has offices and manufacturing sites in Irvine and Santa Rosa. To learn more, please visit www.endologix.com
About PQ Bypass
PQ Bypass Inc. is a medical device pioneer bringing new advancements to the treatment of advanced peripheral artery disease. PQ Bypass devices are built upon nearly a decade of research and patented technological advancement. The company’s physician-driven innovations include the Detour procedure for percutaneous femoropopliteal bypass and the proprietary TORUS stent graft, the first new stent graft developed for use in the Superficial Femoral Artery in 15 years. PQ Bypass is currently sponsoring two multicenter IDE trials, DETOUR2 and TORUS2, to evaluate the safety and effectiveness of its technology platform in two distinct patient populations and build upon the body of clinical evidence collected in the DETOUR1 and TORUS1 studies.
About Deerfield Management
Deerfield is an investment management firm committed to advancing healthcare through investment, information and philanthropy.
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