Company Expands Vascular Reach to Treat Unmet Needs of Both AAA and PAD Patients
IRVINE, Calif.—(BUSINESS WIRE)—April 13, 2021—Endologix LLC, a leader in the treatment of vascular disease, today announced it has completed the acquisition of PQ Bypass, Inc., a privately held medical technology company pioneering a first-of-its-kind technology that addresses an unmet need for new treatments for severe peripheral arterial disease (PAD).
PQ Bypass’ proprietary Detour platform for percutaneous femoral-popliteal bypass has been designated by the U.S. Food & Drug Administration (FDA) as a Breakthrough Device. The Detour System consists of the TORUS stent graft and the PQ Crossing Device. The Detour System is currently being studied in a U.S. and European clinical trial, DETOUR2.
“The acquisition of PQ Bypass is a seminal moment in Endologix’s history, building upon our leadership in the treatment of abdominal aortic aneurysm to champion disruptive technologies for the treatment of vascular disease,” said Richard Mott, CEO and chairman, Endologix. “We intend to actively pursue new and innovative vascular technologies that are clinically relevant to surgeons, hospitals and patients, with a commitment to world-class medical education, clinical research and excellent procedural outcomes.”
Andrew ElBardissi, MD, partner at Deerfield Management stated, “We are excited about the progress that Endologix has made over the past year. With the acquisition of PQ Bypass, we believe the company is positioned to accelerate its leadership in the treatment of vascular disease, and we look forward to supporting continued growth.”
Endologix LLC is a California-based, global medical device company dedicated to improving patients’ lives by providing innovative therapies for the interventional treatment of vascular disease. Endologix has a therapeutic portfolio designed to treat diseases which currently have clinically relevant unmet needs. These products can treat a wide spectrum of vascular disease through abdominal aortic aneurysms to lower limb peripheral vascular disease. Excellent clinical outcomes are achieved through meticulous attention to product design, manufacturing, and training, all backed by industry-leading clinical evidence. Endologix’s abdominal aortic aneurysm (AAA) products are built on one of two platforms: Traditional minimally-invasive endovascular aneurysm repair (“EVAR”) and endovascular aneurysm sealing (“EVAS”). Endologix’s current commercial EVAR products include the AFX®2 device and the ALTO® Abdominal Stent Graft System. Endologix became a private company, wholly owned by Deerfield on October 1, 2020. Prior to that, Endologix had been a publicly traded company. The company has offices and manufacturing sites in Irvine and Santa Rosa. To learn more about Endologix, please visit https://endologix.com/.
About PQ Bypass
PQ Bypass, Inc. is a medical device pioneer bringing new advancements to the treatment of advanced peripheral artery disease (PAD). PQ Bypass devices are built upon nearly a decade of research and patented technological advancement. The company’s physician-driven innovations include the Detour procedure for percutaneous femoropopliteal bypass and the proprietary TORUS stent graft, the first new stent graft developed for use in the SFA in 15 years. PQ Bypass is currently sponsoring two multicenter IDE trials, DETOUR2 and TORUS2, to evaluate the safety and effectiveness of its technology platform in two distinct patient populations and build upon the body of clinical evidence collected in the DETOUR1 and TORUS1 studies. To learn more, please visit http://www.pqbypass.com/.
About Deerfield Management
Deerfield is an investment management firm committed to advancing healthcare through investment, information, and philanthropy. For more information, please visit www.deerfield.com.