Kaneka invests in a US-based medical device company

Food and Healthcare Press Releases Tuesday February 5, 2019 10:40
TOKYO--5 Feb--PRNewswire/InfoQuest

Kaneka Corporation (Tokyo, Japan, President: Mamoru Kadokura) has entered into an investment and strategic agreement with an undisclosed US-based medical device company ("Company"). According to this agreement, Kaneka has made an investment in 18.5% shares of the Company and plans to start sales as the exclusive distributor of the Company's proprietary FFR products in Japan commencing in 2020. With the addition of the Company's FFR products, Kaneka expects sales of diagnostic devices to exceed US$ 100 Million by 2022, accelerating the development of this Kaneka business segment in the US, Europe and Asia etc.

FFR (Fractional Flow Reserve): an indicator of the status of blood flow impediment caused by a coronary stenosis, has been used to assess the optimal therapeutic method for ischemic heart disease * 1 such as myocardial infarction. By using FFR, significant medical cost reduction is expected by measuring the physiologic effect of the stenosis and selecting the best treatment in advance. In Japan, following the clinical remuneration revision of April 2018, the preoperative functional ischemia assessment * 2 has been added. Due to this legal reform, the market size for FFR products is projected to expand substantially in the near future.

In addition to its existing products for interventional and intravascular treatment, including balloon catheters and embolic coils, Kaneka will expand its business to include diagnostic medical devices, where considerable growth is expected starting with the FFR products utilizing the Company's cutting-edge technology.

Kaneka continues to seek partnerships and M&A opportunities and aims to achieve US$ 100 Million in sales in the diagnostic field by 2022, providing solutions that support healthy and energetic lives globally.

* 1 Ischemic heart disease: a disease in which the blood flow is stagnant, such as the coronary artery of the heart becoming narrower
* 2 Functional ischemia assessment: Evaluation of blood flow quantitatively rather than qualitatively by contrast examination
Contact:
Kiminori Toda
Kiminori.Toda@kaneka.com
Logo - https://mma.prnewswire.com/media/635217/Kaneka_Corporation_Logo.jpg

Latest Press Release

Mallinckrodt Announces Interim Analysis Results for Therakos(R) Platform Phase 3 Clinical Trial in Treatment of Pediatric Patients with Steroid Refractory Acute Graft-versus-Host Disease

-- Overall response rate exceeded specified study midpoint target (n=25); company elects to discontinue further patient enrollment as allowed by protocol -- Mallinckrodt plc (NYSE:MNK), a leading global specialty pharmaceutical company, today announced...

Takeda, Microsoft and EURORDIS release report with action plan to help rare disease community shorten the diagnostic odyssey

- Global Commission's recommendations focus on three solution pathways that leverage technology to address key elements of the rare disease diagnostic odyssey - Rare diseases remain undiagnosed as patients struggle to navigate complex health systems to...

Pivotal Phase III Data for BAVENCIO(R) (avelumab) Plus INLYTA(R) (axitinib) in Advanced Renal Cell Carcinoma Published in the New England Journal of Medicine

- JAVELIN Renal 101 shows significant improvement in progression-free survival with a hazard ratio of 0.69 in patients regardless of PD-L1 expression - US FDA has granted Priority Review to BAVENCIO plus INLYTA for patients with advanced renal cell...

ISABS เตรียมจัดการประชุมว่าด้วยการแพทย์ส่วนบุคคลที่โครเอเชีย พร้อมเชิญเจ้าของรางวัลโนเบลร่วมบรรยาย

International Society for Applied Biological Sciences (ISABS) ร่วมกับ Mayo Clinic และ St. Catherine Hospital เตรียมจัดการประชุม "ISABS Conference on Forensic and Anthropologic Genetics and Mayo Clinic Lectures in Individualized Medicine" ครั้งที่ 11...

ISABS: Personalized Medicine Conference With Nobel Laureates to Be Held in Split, Croatia

International Society for Applied Biological Sciences (ISABS), Mayo Clinic and St. Catherine Hospital are organizing "11th ISABS Conference on Forensic and Anthropologic Genetics and Mayo Clinic Lectures in Individualized Medicine"(http://www.isabs.net)...

Related Topics