Next Biomedical said on the 10th it signed an exclusive licensing deal in Japan with Japanese medical device corporations Asahi Intecc for the vascular embolization-promoting prosthesis "Nexsphere-F™."
The deal was made in a finished goods supply format. Unlike general bio corporations that receive royalties through technology transfer, Next Biomedical has a structure that generates revenue by directly exporting finished goods medical devices.
Asahi Intecc is a medical device corporations focused on microcatheters and guidewires, supplying products to about 120 countries including Japan, the United States, Europe, China and India.
A guidewire is a thin metal wire that secures a path inside a blood vessel and is used in most endovascular procedures, while a microcatheter is a miniature tube that follows the guidewire deep into the vessel to deliver drugs or embolic materials. Microcatheters are used in a range of procedures, including musculoskeletal embolization (MSKE) and transarterial chemoembolization (TACE).
The company is expanding its business in the endovascular intervention field based on its network of medical professionals and distribution capabilities in Japan. In particular, it has built a network of clinicians centered on Dr. Yuji Okuno, who developed arthritis embolization.
Next Biomedical plans to ramp up its entry into the Japanese market with this agreement. Asahi Intecc is preparing clinical trials in Japan for patients with chronic pain to obtain approval from Japan's Pharmaceuticals and Medical Devices Agency.
A company official said, "The deal came together based on product competitiveness and overseas growth potential," and added, "We will leverage the local sales network to step up our push into the Japanese market."