OLYMPUS ACQUIRES ARC MEDICAL DESIGN LIMITED FROM NORGINE B.V.
AMSTERDAM, The Netherlands. 7 August 2020, 08:00 BST / 09:00 CET. Norgine B.V. (Norgine) and Olympus Corporation (Olympus) today announced they have signed a definitive agreement under which Olympus will acquire Arc Medical Design Limited (Arc Medical Design).
Norgine acquired Arc Medical Design in 2015 and commercialised and distributed ENDOCUFF VISION™. ENDOCUFF VISION™ is a Class 1 sterile medical device used in colonoscopy, across a number of major European markets, Australia and New Zealand. Norgine B.V. successfully developed the product in these markets.
Norgine and Arc Medical Design contributed to the funding of the ADENOMA investigator led study. This large multi-centre randomised controlled study showed that ENDOCUFF VISION™ significantly improves adenoma detection rate and colorectal cancer detection during colonoscopy in bowel cancer screening patients.
Peter Martin, Chairman of Arc Medical Design commented, “Arc Medical is proud of the significant contribution that it has been able to make to patients at risk of developing bowel cancer, and to those healthcare professionals screening them. We know Olympus will continue the successful roll-out of ENDOCUFF VISION™ across the world, as they already have in the US and more recently in other territories including Europe.”
Under the agreement, Olympus will acquire Arc Medical Design and obtain full rights to its suite of innovative medical products. Olympus will convert its current exclusive distribution rights of ENDOCUFF VISION™ to a full acquisition of the ENDOCUFF family of products, which also includes ENDOCUFF™, ENDOCUFF GLIDE™ and ENTEROCUFF™, as well as WIDE-EYE™ POLYTRAP and several products currently in development. By acquiring Arc Medical Design, Olympus is assuming worldwide responsibility for design, manufacturing, distribution and business strategy for the product portfolio with immediate effect.
About ENDOCUFF VISION™
ENDOCUFF VISION™ is a device attached to the distal end of a colonoscope, designed to maintain and maximize the viewable mucosa during endoscopic therapy by manipulating colonic folds. A single row of flexible arms everts and flattens folds to provide an enhanced view of the entire colon and to decrease the polyp miss rate.
Norgine is a leading European specialist pharmaceutical company that has been bringing transformative medicines to patients for over a century. Our commitment to transforming people’s lives drives everything we do and our European experience, fully integrated infrastructure and exceptional partnership approach enables us to quickly apply creative solutions to bring life-changing medicines to patients that they may not otherwise be able to access. Norgine is proud to have helped 22 million patients around the world in 2019 and generated more than €419 million in net product sales, a growth of 6% over 2018.
Norgine has a direct presence in 12 European countries, as well as Australia and New Zealand. We also have a strong global network of partnerships in non-Norgine markets. We are a flexible and fully integrated pharmaceutical business, with manufacturing (Hengoed, Wales and Dreux, France), third party supply networks and significant product development capabilities, in addition to our sales and marketing infrastructure. This enables us to acquire, develop and commercialise specialist and innovative products that make a real difference to the lives of patients around the world.
In 2012, Norgine established Norgine Ventures, a complementary business which supports innovative healthcare companies through the provision of debt-like financing in Europe and the US. For more information, please visit www.norgineventures.com.
For further information please contact:
Clara Bentham +44 (0)1895 826654 or +44 (0)7734 367883
Eleni Fistikaki +44 (0)1895826227 or +44 (0)7825 389477
References Ngu WS, et al. Gut 2018;66:1–9. doi:10.1136/gutjnl-2017-314889