Dive Brief:
- Medtronic has agreed to be the exclusive U.S. distributor of Contego Medical’s portfolio, which includes devices that provide revascularization treatment for carotid and peripheral vascular disease.
- The deal, announced Monday, includes an increased investment in Contego and an option to buy the Raleigh, North Carolina-based company. Medtronic will use its peripheral vascular and neurovascular commercial teams to begin distribution of Contego’s products this spring.
- David Moeller, Medtronic’s president of peripheral vascular health, said in a statement that Contego’s technologies “are transforming how carotid disease is treated and complement the Medtronic peripheral and stroke protection portfolio,” adding that the agreement “expands our commitment to this fast-growing carotid market.”
Dive Insight:
Contego’s portfolio includes the Neuroguard carotid stent system and Excipio thrombectomy devices. The Neuroguard system is designed to reduce the steps required for placing a stent and consists of a filter meant to catch microemboli, small particles including clots that can block blood vessels, which other systems can miss.
The Food and Drug Administration granted premarket approval for Neuroguard in October 2024 following clinical trial results published in November 2023 that showed there were no major strokes or neurological deaths in the study.
Earlier this month, researchers wrote in a study published in the medical journal JACC: Cardiovascular Interventions that Neuroguard’s “rate of major adverse events was extremely low, demonstrating the study system is a safe, effective, and durable treatment option for high-risk patients.” Contego sponsored the study.
Medtronic has been a minority investor in Contego since 2020. Monday’s announcement did not include financial disclosures about Medtronic’s increased investment or a potential acquisition amount.
The agreement with Contego follows Medtronic’s announcement last week of an exclusive five-year deal to sell Kuros Biosciences’ bone graft technology for spinal procedures in the U.S.
