Broncus has entered an equity transfer agreement to acquire a 100% equity interest in Chinese device company Hangzhou Jingliang.
The equity transfer will be done through the Chinese subsidiary of Broncus, Broncus Hangzhou. The acquisition is expected to supplement Broncus’ portfolio of interventional diagnosis and treatment for lung diseases.
Mainland China is a high-grossing market for Broncus. In H1 FY 2023, the company generated $4.25m in revenue from product sales in Mainland China, as per the company’s financials.
According to GlobalData analysis, the respiratory device market is forecasted to be worth $12bn by 2030. Broncus’s respiratory portfolio includes several diagnostic devices, including the BioStar transbronchial aspiration needle (TBNA) for minimally invasive diagnostic applications. These allow for improved manoeuvrability to obtain better-quality lung tissue samples. BioStart is currently in pre-market review with the US Food and Drug Administration (FDA).
Bronchus plans to leverage Hangzhou Jingliang’s robot control and driving system platform to integrate and develop Broncus’ portfolio of flexible catheter products and fibre optic navigation, software, and algorithms of flexible transbronchial surgical robots, as per a 24 November press release. Following the acquisition, Broncus intends to specifically advance its flexible robot project using Hangzhou Jingliang’s technology.
The surgical robotics market was worth approximately $9.67bn in 2022 and is forecasted to be worth $17.16bn by 2030, as per a GlobalData market model. The market is expected to grow at a compound annual growth rate (CAGR) of 12.99%.
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In September, Broncus published long-term data on the use of bronchoscopic thermal vapour ablation (BTVA) procedure using InterVapor to treat chronic obstructive pulmonary disease (COPD). The post-market study (NCT04131777) of the device showed that no serious adverse events were associated with the device-assisted procedure. Furthermore, the patients treated with the device showed better pulmonary function, exercise tolerance, and symptom score at 36 months following treatment, compared to standard medical treatment.
Bronchus is also developing a transbronchial pulmonary radiofrequency ablation system for treating lung cancer. The six-month clinical trial data from 126 patients demonstrated a 99.35% technical success rate and a 92.06% six-month complete ablation rate of the main lesion.