Terumo Corporation announced that it has completed the acquisition of Quirem Medical B.V., a Netherlands-based healthcare startup specializing in the development of next-generation microspheres for Selective Internal Radiation Therapy (SIRT), a treatment for liver tumors.
According to the Company’s press statement, Terumo will make a one-time, up-front payment of USD 20 million with up to USD 25 million additional payments based on the achievement of future milestones by 2030. It will be funded through cash on hand and will not significantly impact the company’s financial projections for the current fiscal year ending March 31, 2021.
QuiremSpheres, QuiremScout and Q-Suite are CE-Marked and currently available in Europe, the Middle East and Africa (EMEA). In the coming years, Terumo intends to launch the Holmium Platform globally as part of the ongoing expansion of its interventional oncology (IO) portfolio.
“The acquisition of Quirem Medical further strengthens our business, expands on our manufacturing and clinical development activities, and complements our comprehensive suite of offerings to support our customers,” said Jim Rushworth, Chief Commercial Officer of the Interventional Systems Division of Terumo.
“By adding the Holmium-166 platform to our existing IO portfolio, we will further contribute to giving liver cancer patients a better future,” said Laurent Domas, Vice President, Global Interventional Oncology Strategy & Therapy Development, Terumo Europe. “This acquisition reflects Terumo’s commitment to build a broad platform of loco-regional treatment options for liver cancer and is another step forward as we aim to develop and provide treatment solutions for other organs as well.”
“We are very excited with the acquisition of Quirem Medical by Terumo as it will further drive the adoption of our unique product offerings worldwide and accelerate our pace of innovation, reaching more patients that will benefit from our technology,” said Jan Sigger, CEO of Quirem Medical.
Terumo said that it has been building its presence in the interventional oncology field, with product offerings such as the micro catheter system (Progreat), compressible microspheres for embolization (HydroPearl), drug-eluting microspheres (LifePearl), and biodegradable drug eluting microspheres (BioPearl). In 2015, Terumo invested in Quirem Medical and became the exclusive global distributor of their technology.
Quirem Medical develops and commercializes the next-generation Selective Internal Radiation Therapy (SIRT) microspheres based on the radioisotope Holmium-166. The company believes the treatment outcome of unresectable liver cancer with SIRT can be optimized with Holmium-166 microspheres, which can be visualized and quantified to improve SIRT patient selection, treatment planning and treatment verification.
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