BioForm Medical Acquires Facial Aesthetic Nerve Ablation Technology
Technology designed to selectively weaken specific muscles may provide an attractive alternative treatment for frown lines
San Mateo, CA – BioForm Medical, Inc. (NASDAQ: BFRM) announced that it has acquired substantially all of the assets of privately-held, Denver, CO based, Advanced Cosmetic Intervention, Inc. (ACI) and associated technology rights for $12 million cash, plus future royalties and a potential sales-related milestone. This acquisition provides BioForm Medical, a leading medical aesthetics company, with a commercially-available technology for local nerve ablation.
ACI’s device, sometimes also referred to as the GFX device in prior media reports, is currently cleared via a 510(k) by FDA to create RF heat lesions in nerve tissue. The ACI device uses minimally-invasive bi-polar radiofrequency energy selectively to weaken nerve signal transduction with durable effects.
The use of this technology on nerves that control the muscles of the forehead may reduce the appearance of frown lines, or glabellar furrows. BioForm Medical expects to conduct clinical studies specifically intended to support an FDA application seeking clearance to market this product for the treatment of frown lines. The Company expects to also seek a CE mark and certain other international registrations of the ACI device for aesthetics indications.
“We are building a leading medical aesthetics company. We believe this new treatment will offer patients an attractive alternative therapy for the treatment of frown lines. Many patients in our consumer research surveys have indicated that they choose not to receive neurotoxin treatment due to fear of losing facial expressions, or fear of injections with a toxin,” stated Steven Basta, CEO of BioForm Medical. “We believe that the synergy of this product with our Radiesse dermal filler will be terrific. We have a differentiated, long-lasting filler, and in the coming years we hope to offer physicians a new treatment option for frown lines. This is part of our commitment to partnering with physicians to offer them improved aesthetic treatment options that can grow their practices.
This device could appeal to many of the same physicians who select Radiesse dermal filler for their patients, and will leverage our existing sales and marketing organization.” In the acquisition of ACI, BioForm Medical will hire several of ACI’s employees, and retain others as consultants to maintain continuity of this program and to accelerate future product development and commercialization activities. In addition to the up-front consideration, BioForm Medical will pay a single-digit royalty to ACI. The Company anticipates that significant positive revenue impact of this acquisition is not likely until it obtains clearance for the product for aesthetic applications, anticipated to occur in calendar year 2009.
About BioForm Medical, Inc.
BioForm Medical, Inc. is a medical aesthetics company headquartered in San Mateo, California. BioForm is dedicated to bringing doctors and their patients safe and effective products for use in the dermatology, plastic surgery and ENT markets. BioForm’s products include Radiesse®, a long lasting filler for use in facial aesthetics and vocal fold insufficiency, and Coaptite® for treating female stress urinary incontinence which is marketed through a partnership with Boston Scientific Corporation. BioForm has licensed U.S. marketing rights to Aethoxysklerol®, the worldwide leading sclerotherapy agent, which is currently being evaluated in a Phase III clinical trial. BioForm has also licensed BioGlue, a new surgical adhesive product for plastic surgery applications, which is being developed in a partnership with CryoLife, Inc.
BioForm Medical Inc.
866.862.1211
www.bioform.com
Source: BioForm Medical Inc.