Terumo Neuro signed an agreement on September 30 to acquire Arsenal Medical. Arsenal is a clinical-stage biomaterials company in Waltham, Massachusetts, founded by Robert Langer, George Whitesides and Carmichael Roberts. Neither side disclosed the price. The deal is subject to customary closing conditions.
Arsenal's lead product is NeoCast, an investigational liquid embolic for middle meningeal artery embolization in chronic subdural hematoma. It is solvent-free and non-adhesive. Arsenal says that gives more controlled delivery and more predictable distal penetration. In the EMBO-02 first-in-human study, 96 percent of subjects reached at least a 50 percent reduction in hematoma volume.
FDA approved an IDE in May for RADIANT, the trial meant to support approval. It plans about 360 subjects randomized 2 to 1 at up to 35 sites in the United States and Australia. The comparator is Onyx LES, used alongside surgery, and enrollment has started. Buying a company mid-trial means Terumo now owns the enrollment risk.