A Medical Device Daily

DJO (San Diego), a global provider of medical device solutions for musculoskeletal health, vascular health and pain management, reported the sale of the rehabilitation equipment and supply catalog business of its Empi (St. Paul, Minnesota) business unit, Empi Therapy Solutions (ETS; St. Paul, Minnesota), formerly known as Rehab Medical Equipment, or RME, to Patterson Medical, a division of Patterson Companies (also St. Paul). ETS generated annual sales of about $32 million in 2008.

The financial terms of the transaction, which was completed on June 12, were not disclosed.

A substantial portion of the ETS business consists of the resale of non-DJO branded rehabilitation equipment and supplies.

"Empi's market-leading franchises in electrotherapy, home traction, and iontophoresis (transdermal drug delivery), remain core components of DJO's business going forward and we will continue to serve our customers with these important Empi products," said Les Cross, president/CEO of DJO. "With the sale of the non-core ETS business, Empi can now devote its full resources on its higher-margin, industry-leading brands and products."

Patterson Companies serves the dental, companion-pet veterinarian and rehabilitation supply markets.

In other dealmaking news, Inovio Biomedical (San Diego), a company engaged in the development of a new generation of vaccines, called DNA vaccines, reported that it has granted an option to a commercial license to develop intravascular catheters using its proprietary electroporation technology to Cardigant Medical (Long Beach, California).

Cardigant said it intends to develop catheters utilizing Inovio's electroporation technology in exchange for an option fee and, upon exercise of the option, royalties on product sales. Inovio preclinical and interim clinical data have shown the capability of the company's electroporation technology to dramatically enhance cellular uptake of drugs and genes, and, in the case of genes, levels of gene expression. These characteristics may enhance the utility of drug or gene-based therapeutics for treating a variety of vascular conditions, including vulnerable plaques and others requiring revascularization.

"We strongly believe in the potential of this technology to enhance the therapeutic options available for treating the many components of vascular disease," said Jerett Creed, President of Cardigant. "We view this technology as an enabling component that we hope will translate into improved clinical outcomes for patients worldwide."

Cardigant is an early-stage company focused on novel designs for enhanced delivery of therapeutic agents used to treat vascular disease.