Misonix Sells Sonablate 500 Console and Sonatherm 600 to US HIFU

Misonix Inc. (MSON; Farmingdale, NY, USA), a leading developer, manufacturer, and marketer of ultrasonic surgical devices, has agreed to sell its "Focus Surgery” related assets plus its European distribution rights to US HIFU LLC (Charlotte, N.C., USA), a privately held healthcare company focused on treating primary and recurrent prostate cancer using HIFU, for US$5.8 million.

The transaction entitles US HIFU with rights to acquire Sonatherm 600, a laparoscopic HIFU system used in the ablation of certain soft tissues. Furthermore, US HIFU will hold distribution rights for Misonix's SB500 console, with Misonix retaining intellectual property rights to the three HIFU patents, which were acquired from ProRhythm in June 2009.

The agreement allows Misonix to focus on minimizing additional operating costs and in developing its own proprietary medical devices such as the HIFU transducers and lens technology. Misonix's President and CEO, Michael A. McManus, Jr. commented on the deal "Going forward, we will be a dedicated ultrasonic surgical device company developing, manufacturing and selling only devices we own outright."

The acquisition of the Sonatherm 600 is a major step for US HIFU; this being the company's first significant device, which has received the mandatory US Food and Drug Administration (FDA; Atlanta, GA, USA), clearance, for commercialization in the United States. Sonatherm is a high intensity focused ultrasound (HIFU) treatment of soft tissue, developed by Misonix after it acquired worldwide rights for the product from Focus Surgery, Inc. in July 2008.

The addition of Sonablate HIFU (a minimally invasive medical device used for the treatment of prostate cancer) will add momentum to the US HIFU's plans for a Pan European initiative to showcase the enhanced efficacy of Sonablate HIFU. This device, which is authorized and commercially available in more than 30 other countries, is in its final phase of the FDA's clinical trials.

"This transaction brings Sonablate manufacturing, and research and development together again under one roof… allowing for increased efficiency operationally and an expansion of our HIFU product portfolio," said US HIFU's CEO Steve Puckett, Jr.

Related Links:
Misonix Inc.
US HIFU