BTG Buys Cryoablation Company Galil Medical

BTG (London, United Kingdom) has agreed to buy Galil Medical (Galil; Yokneam, Israel) for an initial cash payment of USD 84.5 million.

Galil Medical manufactures and sells cryoablation systems and needles. Its lead product is Visual-ICE, a minimally invasive, easy-to-use percutaneous cryoablation (PCA) designed to precisely destroy kidney, prostate, and other types of solid tumors by injecting compressed argon gas into them to ablate them. In the United States, Galil’s products are also indicated for a number of other uses, including in urology. Galil is presently conducting two clinical studies--both nearing completion--that could lead to U.S. regulatory clearance for use in lung metastases and bone metastases.

“In addition to enhancing our offering to interventional radiologists, Galil Medical provides access to other specialist physicians that may in future include pulmonary specialists, complementing our existing PneumRx and EKOS businesses,” said Louise Makin, CEO of BTG. “Longer term, we are excited by the opportunity to explore the use of our locoregional radiation and cryoablation therapies alongside other developing technologies.”

“Our two companies share a passion for patients and a commitment to innovation that will be better served through this acquisition. Through the significant resources that BTG will bring to bear through this acquisition, I am confident that the acceptance of Galil's market leading cryoablation technology will be accelerated,” said Martin J. Emerson, President and CEO OF Galil Medical. “We are excited about the opportunity to leverage the BTG market reputation and resources in interventional oncology to become an even more important partner to the global healthcare system.”

PCA involves the use of miniature probes inserted via a catheter and guided to the tumors, at which point pressurized argon gas is introduced, effectively killing the cancerous tissue. Helium gas is then pumped in to help release the needle. Medical imaging helps detect distinct densities between normal tissues and frozen cancer tissue, which has a lower density than the surrounding tissue. The treatment results in minimal damage to surrounding healthy tissues and the side effects and recovery time are dramatically reduced when compared to those of other therapies.

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