BioCentury
ARTICLE | Company News

BTG announces fundraising, deals

May 24, 2013 12:34 AM UTC

BTG plc (LSE:BTG) raised L106.3 million ($161.5 million) through the sale of 32.3 million shares at 330p in a placing on Thursday and also announced a pair of deals. BTG will acquire TheraSphere liver cancer therapy from Nordion Inc. (TSX:NDN; NYSE:NDZ) for $200 million. The product, which had revenues of $48 million for the fiscal year ended Oct. 31, 2012, is marketed in the U.S. under a Humanitarian Device Exemption (HDE) to treat unresectable hepatocellular carcinoma (HCC) and HCC in patients with portal vein thrombosis (PVT). TheraSphere -- yttrium-90 glass microspheres used for localized radioembolization therapy -- is approved in Europe and Canada to treat hepatic neoplasia.

BTG also will acquire medical device company Ekos Corp. (Bothell, Wash.) for $180 million up front, plus up to $40 million in milestones. Ekos, which had 2012 product sales of $28 million, markets its EkoSonic endovascular system in the U.S. and EU to treat severe blood clots. EkoSonic delivers thrombolytic drugs and ultrasound through a catheter to break clots. Both deals are subject to shareholder approval. ...