Axonics Acquires Urethral Bulking Agent For $200M

by Vandana Singh, Benzinga Editor

February 26, 2021 8:37 AM | 1 min read | Make a Comment

Axonics Modulation Technologies Inc (NASDAQ: AXNX) has 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.

Posted In: Biotech M&A News Health Care FDA General urinary tract infections

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.