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Axonics Acquires Urethral Bulking Agent For $200M

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  • Axonics Modulation Technologies Inc (NASDAQ: AXNXhas acquired UK-based Contura and its lead product Bulkamid, a urethral bulking agent used to treat female stress urinary incontinence.
  • The transaction includes a total consideration of $200 million in cash and stock, along with a potential future milestone of $35 million.
  • Bulkamid is a homogenous non-particulate hydrogel injected into the urethral wall in a minimally invasive office or outpatient facility procedure for restoring the urethra’s natural closing pressure.
  • The hydrogel secured CE Mark approval in 2003 and the FDA approval last year.
  • Price Action: AXNX shares are 1.34% higher at $51.50 in the premarket session on the last check Friday.
 

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Posted-In: urinary tract infectionsBiotech M&A News Health Care FDA General

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